The EURUSD pair maintains a bullish outlook after weak US labour market data, with the price currently at 1.1713. Discover more in our analysis for 8 September 2025.
EURUSD forecast: key trading points
- US Nonfarm Payrolls rose by just 22 thousand in August, below expectations of 75 thousand
- The US unemployment rate increased to 4.3% from 4.2%, the highest since October 2021
- Weak labour market data strengthened dovish sentiment within the FOMC
- EURUSD forecast for 8 September 2025: 1.1750
Fundamental analysis
The EURUSD rate is slightly declining after testing the key resistance level at 1.1725. This marks the fourth attempt by buyers to hold above this area.
The US dollar remains under pressure following the release of weak labour market data. Nonfarm Payrolls increased by only 22 thousand in August, well below the upwardly revised 79 thousand in July and the market forecast of 75 thousand. Unemployment rose to 4.3%, the highest since October 2021, up from 4.2% a month earlier.
The weak statistics reinforced dovish sentiment among FOMC members, who had earlier pointed to the need for monetary policy adjustments amid slowing economic growth and worsening labour conditions.
Market participants have now revised their expectations: instead of holding rates steady until the second half of 2026, they are forecasting two cuts this year, with one in September and another in December.
EURUSD technical analysis
The EURUSD pair is trading near the lower boundary of the ascending channel, capped by resistance around 1.1725. A fourth unsuccessful attempt to consolidate above this level suggests the likelihood of a short-term correction before a new growth impulse.
Today’s EURUSD forecast suggests continued upward momentum, with a risk of a renewed test of the 1.1725 resistance level and a further attempt to move towards the upper boundary of the bullish channel at 1.1790. After exiting the overbought zone, the Stochastic Oscillator is showing a local decline, which confirms the possibility of a short-term pullback before growth resumes.
An additional factor supporting the bullish scenario is that prices remain above the Moving Average, reinforcing the outlook for gradual strengthening of the pair.
Summary
Weak US labour market data and expectations of two Fed rate cuts before the end of the year add to pressure on the US dollar and support further EURUSD strengthening. Technical analysis of EURUSD indicates continued bullish momentum, with another test of the 1.1725 resistance level and a move towards 1.1790 after a short-term correction.
Source: Roboforex