FX.co ★ EUR/USD

EURUSD Price Forecast: Let's analyze the price movement of the EUR/USD currency pair. On Friday, the EUR/USD pair traded within a planned sideways movement on the H1 timeframe, continuing for the ninth day. As expected, a breakout from this sideways pattern is not expected until the weekend, and prices will likely remain within this range on Monday. However, a breakout from this consolidation may occur on Tuesday and Wednesday, as the economic calendar shifts. While the key question is which direction the market will move, predicting the direction of a breakout remains uncertain, as it could theoretically occur in either direction. The attached chart shows potential targets for this move. It is difficult to accurately predict which direction the EUR/USD pair will breakout in the coming week.

Especially considering that a narrow resistance range between 1.15982 and 1.15803 has been defined during the recent decline. However, if prices stabilize above this range, bulls may aim for a new high. We estimate the probability of either scenario at 50%, but are slightly more bullish. The price may retreat to the lower boundary of the triangle, near the low of 1.10825. However, a breakout is more likely. The price may attempt to break out of the current upper limit or may turn downwards without reaching the lower limit yet. Therefore, a new high at 1.16445 should still be ruled out. Looking at the US Dollar Index, bearish signs are visible. The index may fall further and even make a new low of 109.30.