The EUR/USD currency pair is ending the trading week within a correction phase and a descending channel. At the time of this weekly forecast, the EUR/USD exchange rate stands at 1.1223. Moving averages indicate a bullish trend for the pair. Prices have broken upward through the area between the signal lines, signaling buying pressure on the Euro and a likely continuation of the rise from current levels. The forecast for the trading week anticipates an attempt at a bearish correction for EUR/USD, testing the support area near the 1.1185 level. A rebound and continued growth of the pair are expected from this point during the current trading week. The potential target for the rise is the area above the 1.1745 level.
EURUSD Weekly Forecast October 12 – 16, 2026
An additional signal favoring a rise in EUR/USD is a test of the support line on the Relative Strength Index (RSI). A second signal is a rebound from the lower boundary of a bullish “Head and Shoulders” pattern. The bullish scenario for the current trading week (October 12–16, 2026) would be invalidated by a drop and a breakout below the 1.1005 level; this would indicate a breach of the support area and a continued decline toward the level below 1.0775. A breakout of the resistance area and a close above 1.1305 would signal a breakout above the upper boundary of the descending channel.
EURUSD Weekly Forecast October 12 – 16, 2026 suggests an attempt to develop a bearish correction and a test of the support area near the 1.1185 level. From there, a price rebound and a continuation of the pair’s growth toward the area above 1.1745 should be expected. A test of the resistance line on the Relative Strength Index (RSI) will serve as an additional signal favoring an upward move. The bullish scenario would be invalidated by a drop and a breakout below the 1.1005 level; in that case, a continued decline with a potential target at 1.0775 should be anticipated.
