The EURUSD pair maintains its steady bullish momentum, with no signs of weakening so far. The current rate stands at 1.1775. Find more details in our analysis for 24 July 2025.
EURUSD forecast: key trading points
- The US dollar weakens amid progress in trade talks with key partners
- Market focus shifts to next week’s Fed meeting; interest rates are expected to remain unchanged
- EURUSD forecast for 24 July 2025: 1.1855
Fundamental analysis
The EURUSD pair continues to climb for the fifth consecutive trading session. The US dollar weakens as progress in trade negotiations with key partners boosts demand for rival currencies. Recent reports indicate that the US and the EU are close to finalising an agreement.
Treasury Secretary Scott Bessent reassured investors that Federal Reserve Chairman Jerome Powell would not be forced to resign, despite ongoing criticism from Donald Trump regarding the Fed’s monetary policy.
Market participants now shift their focus to the upcoming Federal Reserve meeting scheduled for next week. Interest rates are expected to remain unchanged amid continued uncertainty around global tariffs.
Meanwhile, US crude oil inventories dropped by 3.17 million barrels last week, reaching 419 million barrels. This figure, published by the Department of Energy, significantly outperformed expert expectations, which predicted a decline of only 1.6 million barrels.
EURUSD technical analysis
The EURUSD rate remains within an ascending channel, showing confident movement above the 1.1750 resistance level. The price is currently consolidating near the next local resistance level, suggesting a potential pause before a new upward impulse.
Today’s EURUSD forecast anticipates a possible short-term pullback towards the lower boundary of the channel near 1.1755, followed by a renewed rise towards 1.1855. The Stochastic Oscillator remains in the overbought area, but its signal lines continue to point upwards, confirming sustained bullish pressure.
Summary
EURUSD strength continues, supported by a weaker dollar amid progress in US-EU trade talks and the absence of hawkish Fed expectations. EURUSD technical analysis shows the pair maintains its bullish momentum within the upward channel. After a short-term correction towards 1.1755, a move towards the 1.1855 target remains the primary scenario.
Source: Roboforex
