The EURUSD rate is consolidating above 1.0800 amid slightly higher US unemployment in February. Find out more in our EURUSD analysis for 10 March 2025.
EURUSD forecast: key trading points
- Market focus: Germany’s industrial production statistics for January will be released today
- Current trend: trending upwards
- EURUSD forecast for 10 March 2025: 1.0888 and 1.0765
Fundamental analysis
The EURUSD pair appears rather confident after Friday’s release of US employment statistics for February, according to which nonfarm payrolls increased by 151 thousand below the forecast of 169 thousand, while the unemployment rate rose to 4.1% (the forecast was 4.0%).
Today, the market will focus on Germany’s industrial production data for January, with industrial production expected to grow by 1.5% month-on-month. A more significant increase in production will help strengthen the euro, while the lower-than-expected data may send the EURUSD pair into a downward correction.
EURUSD technical analysis
On the H4 chart, the EURUSD rate is rebounding from the 1.0870-1.088 resistance area. The Alligator indicator confirms the uptrend. However, following strong growth last week, the pair could undergo a downward correction in the near term, with the asset likely to resume growth after the correction.
The EURUSD forecast for today suggests that the pair could rise to 1.0900 and higher if the bulls surpass the 1.0870-1.0888 resistance area. Conversely, if the bears seize the initiative and reverse the quotes downwards, the pair could decline further to the 1.0765 support level.
Summary
The EURUSD pair is trading in an uptrend, with the price currently consolidating above 1.0800. Today, the market will focus on Germany’s industrial production statistics for January.
Source: Roboforex
