The EURUSD rate remains under pressure after a short-term rise, as signs of a weakening US labour market have strengthened expectations of a Fed rate cut. The current price is 1.1535. Discover more in our analysis for 7 November 2025.
EURUSD forecast: key trading points
- US companies cut 153,000 jobs in October
- The US dollar remains under pressure amid signs of a cooling labour market
- EURUSD forecast for 7 November 2025: 1.1470
Fundamental analysis
The EURUSD rate is declining after two days of growth. Buyers faced strong resistance around 1.1550, which limited the upward momentum. Despite recovery attempts, the US dollar remains under pressure, as labour market weakness increases expectations of a Federal Reserve rate cut in December.
The likelihood of a 25-basis-point Fed rate cut in December rose to 66.9%, up from 62% the day before, reflecting growing expectations of policy easing.
In October, US companies reported 153,000 job cuts, the highest number for any month since 2008 and a record for October since 2003. Market participants are closely monitoring private sector data, as official employment statistics are temporarily unavailable due to the ongoing US government shutdown.
EURUSD technical analysis
The EURUSD rate is undergoing a correction while staying within a descending channel. Buyers faced strong resistance at 1.1550, where the upper boundary of the channel lies. From this level, buyer activity decreases, indicating a likely resumption of the downward movement.
The EURUSD forecast for today suggests a decline towards the 1.1470 target. The Stochastic Oscillator further supports the bearish scenario, as its lines remain in overbought territory and form a sell signal, confirming the likelihood of a downward correction.
A consolidation below 1.1510 will increase pressure on the euro and confirm a downward impulse towards the lower boundary of the channel.
Summary
The EURUSD technical analysis suggests sustained downward momentum, targeting 1.1470. However, expectations of a Federal Reserve rate cut may limit the depth of the decline and create conditions for a potential euro recovery.
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