Bullish sentiment in EURUSD persists amid U.S. dollar weakness
The EURUSD pair continues to recover steadily as demand for the U.S. dollar declines. The current exchange rate stands at 1.1664. More details in our analysis for 28 October 2025.
EURUSD forecast: key trading points
- The U.S. dollar weakens on optimism over a potential U.S. – China trade deal.
- Investors await the Fed meeting, where a 25 bps rate cut is widely expected.
- The ECB is likely to keep rates unchanged this week.
- EURUSD forecast for 28 October 2025: 1.1710.
Fundamental analysis
EURUSD has been rising for five consecutive trading sessions, maintaining a strong bullish tone despite brief intraday corrections. The nearest key resistance for buyers is located at 1.1695.
The U.S. dollar continues to lose ground as optimism around a possible trade agreement between the U.S. and China reduces demand for the greenback as a safe-haven asset. Meanwhile, investors are focused on the upcoming Federal Reserve meeting, where policymakers are expected to cut rates by 25 basis points. Markets are also watching closely for any signals regarding potential further easing in December.
In contrast, the European Central Bank is expected to leave interest rates unchanged this week, which further supports demand for the euro. The combination of a weaker dollar and stable ECB policy keeps the EURUSD outlook bullish, suggesting continued upward momentum in the near term.
EURUSD technical analysis
EURUSD remains within a steady ascending channel, holding above the EMA-65, which confirms the strength of the current bullish impulse and sustained buyer interest. The short-term outlook points to a potential move toward 1.1710, where the next key resistance lies.
The Stochastic Oscillator reinforces this scenario, staying in positive territory and continuing to rebound from its upward trendline, signaling strong buying activity.
A firm breakout above 1.1680 would further strengthen the bullish case, paving the way for a continuation of the uptrend toward 1.1710 and possibly higher.
Summary
Both technical and fundamental factors confirm the resilience of the bullish trend in EURUSD. The pair is expected to continue its upward trajectory, with the next target seen at 1.1710, supported by dollar weakness and investor optimism ahead of the Fed meeting.