The EUR/USD currency pair is ending the trading week within a corrective phase and a downward-sloping channel. At the time of this forecast, the EUR/USD exchange rate stands at 1.1154. Moving averages indicate a bearish trend for the pair. Prices have broken below the area between the signal lines, suggesting pressure from sellers of the European currency and a likely continuation of the decline from current levels. For the upcoming trading week, we anticipate an attempt to push the EUR/USD pair lower, testing the support area near 1.1105. From there, a rebound is expected, leading to a recovery in the EUR/USD pair; the potential target for this upward move lies above the 1.1525 level.
EURUSD Weekly Forecast November 2 – 6, 2026
An additional signal supporting a rise in the EUR/USD pair is a test of the support line on the Relative Strength Index (RSI) indicator. A second signal would be a rebound from the lower boundary of the bearish channel. The bullish scenario for the week of November 2–6, 2026, would be invalidated if the price falls and breaks below the 1.0945 level; this would signify a breach of the support zone and a further decline toward levels below 1.0725. Conversely, a breakout above the resistance zone—confirmed by a close above 1.1265—would indicate a breach of the upper boundary of a “double bottom” reversal pattern, signaling the start of the pattern’s execution with upward targets.
EURUSD Weekly Forecast November 2 – 6, 2026 suggests an attempt at a bearish correction, with a test of the support area near the 1.1105 level. From there, a rebound is expected, leading to a continuation of the pair’s upward movement toward the area above 1.1525. An additional signal supporting this rise would be a test of the resistance line on the Relative Strength Index (RSI) indicator. The bullish scenario for EUR/USD would be invalidated if the price falls and breaks below the 1.0945 level; in that case, a continued decline toward a potential target of 1.0725 should be expected.
