EUR/USD Price Forecast and Currency Rate Prediction (2020)

The Euro to US Dollar (EUR/USD) exchange rate is one of the world’s most traded currency pairings.

In this article we make a Euro / US-Dollar price prediction and longterm forecast. We would like to give an assessment of the further price development of Euro / US-Dollar. We look at the long term charts for EURUSD, which are the yearly, quarterly and monthly charts. The basis of our analysis is the Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from FXCM.

EURUSD Yearly Chart

EUR-USD Yearly chart showing longterm downtrend
Yearly chart: EUR-USD in longterm downtrend

Important Highs and Lows

HighsLows
$1.6038 – July 15, 2008$1.1876 – June 7, 2010
$1.2555 – February 16, 2018$1.0340 – January 3, 2017
$1.1569 – January 10, 2019$1.1215 – November 12, 2018
$1.1222 – January 2, 2020$1.10879 – October 1, 2019

If we look at the yearly chart of the EURUSD currency pair, we see a long-term downtrend that originated at the 2008 high at 1.6038.

The chart shows a long-term downtrend line connecting the correction highs of 2011, 2014 and 2018.

The blue line on the chart is a 20-year moving average. The price movement takes place below the moving average, which is basically negative.

Next let us look on the quarterly chart.

EURUSD Quarterly Chart

The quarterly chart of EURUSD ist showing price action since 1998 with trendline and moving average
EUR-USD Quarterly Chart approaches a possible support line

In the 3-month chart above, we see a downward sloping 20-period moving average (blue line), which has very nicely limited the price action over the last few quarters.

Now the price of EUR-USD is approaching a possible support line connecting the 2000 low at 0.8231 with the 2017 low at 1.0340. We will see if the market can find support at the trend line at around 1.0780 and the downtrend will come to a halt for the time being.

Let us continue our review with a look at the monthly chart.

EURUSD Monthly Chart

Image shows EURUSD monthly chart in a downtrend with 20 period moving average and support trend line
EUR-USD Monthly Chart showing downtrend

With the monthly chart we continue to go into the details for the long-term price development of Euro / U.S. Dollar. Again, we see the price action below the falling 20 month moving average (blue line). The chart also shows the possible support line.

EURUSD price prediction and longterm forecast February 2020

With the monthly chart we continue to go into the details for the long-term price development of Euro / U.S. Dollar. Again, we see the price action below the falling 20 month moving average (blue line). The chart also shows the possible support line.

The forex currency pair EUR-USD is in a clean downtrend in all major time units. The probability for prices that tend to fall further is therefore approx. 60%. The next important price target should be the support line drawn in the chart, which runs just below 1.0800. However, it can be assumed that EUR-USD will ultimately show further weakness and could develop downward potential to the low of 2016 at 1.0352.

As long as EUR-USD remains below the 2018 low of 1.1215, the long-term forecast remains negative. Only a price increase well above 1.12 would turn the forecast to cautiously positive.

What is the current price of EURUSD ?

The current price of EURUSD you can see here.

About EUR/USD

The Currency Pair EUR/USD is the shortened term for the euro against U.S. dollar pair, or cross for the currencies of the European Union (EU) and the United States (USD). … For example, if the pair is trading at 1.10, it means it takes 1.1 U.S. dollars to buy 1 euro.

Common European currency was introduced in 1999. Euro currency in cash entered into circulation 3 years later – in 2002. Before that, the non-cash Euro and German marks, French francs, and other European currencies in cash were in circulation simultaneously.

When introducing Euro in January, 1999, the European Central Bank fixed its exchange rate against the US Dollar as 1.1743 dollars for 1 Euro. 

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

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