A decline in US existing home sales is a negative factor for the USD. EURUSD may continue rising towards 1.1810 after a correction. Full details in our analysis for 23 July 2025.
EURUSD forecast: key trading points
- US existing home sales: previous – 4.03 million, forecast – 4.00 million
- US–EU tariff talks enter final stage
- EURUSD forecast for 23 July 2025: 1.1810
Fundamental analysis
Today’s forecast for EURUSD favours the European currency. The pair is trading around 1.1730, forming a correction after recent gains.
Forecasts for US existing home sales on 23 July 2025 suggest a decline to 4.00 million units, down from the previous figure of 4.03 million. These statistics offer insight into consumer purchasing power and overall economic health. While the drop isn’t dramatic, it may still point to weakening consumer capability and could act as a bearish factor for the US dollar.
US-EU tariff negotiations are entering their final phase, with new tariffs set to come into effect on 1 August. Concerns remain that the US may not make concessions, which is slightly weighing on the euro.
EURUSD technical analysis
On the H4 chart, EURUSD has formed a reversal pattern known as a Hanging Man near the upper Bollinger Band. The pair is now undergoing a corrective wave in response to this signal. Given the recent sharp upward spike, a further correction towards the nearest support at 1.1700 is possible. If the price rebounds from this support level, the uptrend may resume.
The more likely scenario suggests a continuation of the EURUSD rise towards 1.1810, maintaining the overall bullish trend.
Summary
Today’s EURUSD forecast leans in favour of the euro. The expected implementation of US tariffs against the EU, combined with technical indicators, points to a potential rise in EURUSD towards the resistance at 1.1810 after the correction phase ends.
Source: Roboforex
