The EURUSD pair is rising after rebounding from a support level, with the price currently at 1.1374. Find more details in our analysis for 28 April 2025.
EURUSD forecast: key trading points
- The US Consumer Sentiment Index fell to 52.2 points in April
- Labour market expectations in the US remain weak
- EURUSD forecast for 28 April 2025: 1.1535
Fundamental analysis
The EURUSD rate is strengthening, with buyers poised for a breakout of the 1.1395 resistance level. However, the pair has remained within a sideways range for the third consecutive trading session, as investors are taking a wait-and-see approach ahead of key economic releases.
The University of Michigan’s final reading of US consumer sentiment for April dropped to 52.2 points from 57.0 points the previous month. The preliminary estimate had suggested a fall to 50.8 points, and most analysts did not expect a revision. Labour market expectations also remain weak.
Markets are now focused on Friday’s US employment report, along with the GDP data for Q1 and the PCE inflation indicator favoured by the Federal Reserve, which are due on Wednesday. Weak data could reinforce expectations of an imminent Federal Reserve rate cut, which would likely support further growth in the EURUSD pair, according to today’s forecast.
The EURUSD rate is testing the upper boundary of the Triangle pattern. The EURUSD forecast suggests a rise towards 1.1535. Technical indicators confirm the bullish scenario, with Moving Averages maintaining an upward direction and the Stochastic Oscillator confidently turning upwards after rebounding from oversold territory. Price consolidation above the 1.1405 level will confirm the bullish scenario.
Summary
The EURUSD pair maintains growth potential amid expectations of weak US economic data and the prospect of an imminent Federal Reserve rate cut. Technical analysis suggests a likely advance towards 1.1535 as part of the unfolding Triangle pattern.
Source: Roboforex
