Currency pair Euro/Dollar EUR/USD continues to move as part of a strong fall and a downward channel. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the European currency and a potential continuation of the fall in asset quotes already from current levels. At the time of the publication of the forecast, the EUR/USD exchange rate is 1.1158. As part of the Forex forecast for February 25, 2022, we should expect an attempt to develop a rise in prices and a test of the resistance level, which is located on the pair near the area of 1.1245. Further, a rebound down and the continuation of the fall of the Euro/Dollar currency pair. The potential target of such a movement on FOREX is the area below the level of 1.0935.
EUR/USD Forecast Euro Dollar February 25, 2022
An additional signal in favor of falling EUR/USD quotes will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option of falling quotes of the Euro/Dollar currency pair will be a strong growth and a breakdown of the level of 1.1365. This will indicate a breakdown of resistance and a continuation of the rise to the area at the level of 1.1575. It is worth waiting for confirmation of the fall in the EUR/USD currency pair with a breakdown of the support level and closing the price below the level of 1.1075, which will indicate a breakdown of important support for sellers.
Among the important news from Europe and the US that may have an impact on the EUR/USD pair, it is worth highlighting: Germany Gross Domestic Product (GDP) q/q, France Gross Domestic Product (GDP) q/q, European Central Bank (ECB) President Lagarde Speech, United States Core Durable Goods Orders m/m, United States Pending Home Sales m/m.
EUR/USD Forecast Euro Dollar February 25, 2022 suggests an attempt to continue the development of a bullish correction and a test of the resistance area near the level of 1.1245. Where should we consider a price rebound down and an attempt to continue the fall of the currency pair in the market to the area below the level of 1.0935. A test of the descending trend line on the relative strength index (RSI) will come out in favor of the instrument’s decline in the Forex market. Cancellation of the EUR/USD pair fall option will be a strong growth of quotes and a breakdown of the level of 1.1365. This will indicate a breakdown of the resistance area and a continuation of the rise of the currency pair on Forex to the area above the level of 1.1575.
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