Is the eur/usd forex likely to rise within the next hour
8/1/2025 01:11pm
**The likelihood of the EUR/USD forex pair rising within the next hour is low.** Here's why:
1. **Current Price Movement**: As of the latest data, EUR/USD is trading around 1.1450, which is below the recent highs of 1.1465 and 1.1575. This indicates a bearish trend in the short term.
2. **Technical Indicators**: The Relative Strength Index (RSI) on the 4-hour chart is below 30, suggesting that the pair has more room to fall rather than rise. Additionally, the 20-day Simple Moving Average (SMA) has collapsed below the 100-day and 200-day SMAs, reflecting a dominant bearish trend.
3. **Market Sentiment**: There is no indication of a reversal in market sentiment. The Euro has been the weakest against the US Dollar this week, and the broad-based US Dollar strength is weighing heavily on EUR/USD. Furthermore, the Federal Reserve's policy announcements and upbeat data releases are contributing to the US Dollar's upward momentum.
4. **Support and Resistance Levels**: The immediate support level is around 1.1400, and the pair has briefly tested this area. However, without a clear catalyst for a reversal, it is more likely to continue its downward trend than to rise.
In conclusion, the EUR/USD forex pair is more likely to continue its recent trend of moving lower rather than rising in the next hour.