The EURUSD pair is climbing towards 1.1688 as trade uncertainty and expectations around the Fed rate decision weigh on the US dollar. Find more details in our analysis for 22 July 2025.
EURUSD forecast: key trading points
- The EURUSD pair edges higher amid shifting market sentiment
- The market follows trade negotiations and Federal Reserve Chairman Powell’s speech
- EURUSD forecast for 22 July 2025: 1.1720
Fundamental analysis
The EURUSD rate rose to 1.1688, reflecting cautious investor optimism ahead of key events this week. Market participants are focusing on trade agreement prospects, with the US setting 1 August as the deadline for deals with several countries.
US Treasury Secretary Scott Bessent stated that Washington prioritises the substance of agreements. According to him, President Donald Trump may consider extending the deadline for countries showing constructive progress in negotiations.
Markets are also closely watching monetary policy developments: Federal Reserve Chairman Jerome Powell will speak later today. Investors are looking for signals about the regulator’s next steps. Despite public pressure from Trump calling for a rate cut, the likelihood of such a move in the near term remains low.
With no significant macroeconomic data at the start of the week, political and monetary developments are taking centre stage.
The EURUSD forecast is moderately bullish.
EURUSD technical analysis
The EURUSD H4 chart shows steady growth since 17 July, when the pair rebounded from the support level near 1.1560. The price broke above 1.1613 and approached the 1.1720 resistance level, where consolidation is now observed.
The Stochastic indicator is in overbought territory near 76, suggesting a possible correction. MACD has turned upwards, confirming the bullish momentum, although it remains slightly positive. Bollinger Bands are expanding, signalling increased volatility. The price is trading in the upper part of the range, confirming bullish dominance.
The next resistance level lies at 1.1720, followed by 1.1749, with the support level at 1.1613 and 1.1560. While the overall trend remains upward, overbought signals increase the likelihood of a pullback.
Summary
The EURUSD pair may continue to rise, with current conditions favouring the bulls. The EURUSD forecast for today, 22 July 2025, suggests a possible upward wave towards 1.1720.
Source: Roboforex
