EUR/USD Forecast. The Euro price faces key resistance – 05-02-2025

forex_news_euro_6The EURUSD price keeps rising to hit the broken neckline of the head and shoulders’ pattern that its signs appear on the chart, which turns into key resistance at 1.0385$, as the price needs to breach this level to confirm the continuation of the bullish wave that targets testing 1.0455$ as a next main station.

Until now, the bullish trend still suggested for the upcoming period conditioned by the price stability above 1.0325$, as breaking it represents the key to turn to decline and head to test the previously recorded low at 1.0220$.

The expected trading range for today is between 1.0300$ support and 1.0465$ resistance

Trend forecast: Bullish

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