EUR/USD Forecast And Long Term 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 forecast and longterm price prediction. We would like to give an assessment of the future price development of EUR/USD. We look at all important time frames like the daily, weekly and monthly chart, but also the long term charts for EURUSD, which are the quarterly and yearly 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.

EUR/USD Forecast: Daily chart

Last Update: September 24, 2020

EUR/USD could not pass the strong resistance zone close under the important 1.2000 level. Now we see a defined downtrend with EUR/USD is trading on the 2005 low level.

euro-dollar-forecast-daily-chart
Euro-Dollar forecast: in a downtrend, approached 2005 low (Chart: TradingView)

Resistance:  1.1861 | 1.2042
Support: 1.1641 | 1.11491

Forecast: The daily chart looks looks bearish and a continuation of the prevailing downtrend could happen. Next downside target is 1.1491. Only prices above 2010 low at 1.1861 could turn the chart picture to positive again.

EUR/USD Forecast: Weekly chart

Last Update: September 24, 2020

EUR/USD on the weekly chart is moving in an established uptrend and has reached the long term downtrend line (red). Also Euro-Dollar could not pass the strong resistance levels at the 2010 low at 1.1861.

EUR/USD forecast : Strong resistance area could prevent further price advance
EUR/USD forecast : Strong resistance area around 2010 low (Chart: TradingView)

Resistance:  1.1861 | 1.2042
Support: 1.1641 | 1.1500

Forecast: The weekly chart is in a correcting mode bringing EUR/USD possibly down to March high around the 1.1500 level. Later we will see if EUR/USD is strong enough to move above the 2010 low, which would be a nice bullish sign.

Euro-Dollar Forecast: Monthly chart

Last Update: September 24, 2020

Euro-Dollar forex pair has now reached mayor resistance levels which are: 2010 low at 1.1876, and long term down trend line (red).

EUR/USD prediction : Strong resistance area could prevent further price advance
EUR/USD prediction : Strong resistance area could prevent further price advance (Chart: TradingView)

Resistance: 1.1826 | 1.1876 | 1.2042
Support: 1.1500

Euro-Dollar Forecast: The monthly chart of EUR/USD looks slightly positive. Strong resistance above the market at 1.1876 and 1.2042. A break below July low at 1.1158 could turn this chart negative with more downside potential.

EUR/USD Prediction: Quarterly chart

Last Update: September 24, 2020

Euro-Dollar forex pair has now reached mayor resistance levels which are: 2010 low at 1.1876, and long term down trend line.

Euro-Dollar forecast: long term downtrend line is mayor resistance
Euro-Dollar forecast: long term downtrend line is mayor resistance (Chart: TradingView)

Resistance:  1.1876 | 1.2000
Support: 1.0879

EUR/USD Prediction: The quarterly chart of EUR/USD looks neutral with strong resistance above 1.1800. We expect to see a continuation of the trading range below 1.1800.

Euro/Dollar Forecast: Yearly chart

Last Update: September 24, 2020

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 last six years EUR/USD is moving sideways in a big trading range. The long term uptrend line is mayor support.

EUR/USD long term prediction: Mayor resistance at 1.1876 (2010 low) and downtrend line (Chart: TradingView)

Resistance:  1.1876 | 1.200 | 1.2042
Support: 1.0879

EUR/USD Prediction: The yearly chart of EUR/USD looks neutral with strong resistance above 1.1800. We expect to see a continuation of the trading range below 1.2000.

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.

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.

4 thoughts on “EUR/USD Forecast And Long Term Prediction (2020)”

  1. Hey Karsten, how do you see the EUR/USD price level going into April 2022?!
    Are we likely to see parity or even lower level?!

    Best regards,
    William

    1. Hi William, thank you for your comment. That’s a good question, and of course nobody could know the future price level for sure. But I will try to give you a helpful answer:

      I think that EUR/USD could trade weaker as long as the strong resistance zone of 1,1850/1,2100 holds.
      In this case sooner or later we could see parity or even lower levels. And yes, this could then happen into April 2022. That is enough time for this bearish case.

      On the other hand, if we see a price advance above 1,2100 in the next weeks or months, then we have to consider a more bullish case with more upside potential until 1,2550 or even higher.

      I hope these considerations could help you.

      Best regards
      Karsten

      1. Hello Karsten,
        Would you please give me your prediction EUR/USD price level going into April- Jun 2021? Thank you! Kind regards, Tanja

        1. Hello Tanja,

          Thank you for your question.

          EUR/USD has strong resistance around 1.2000 level. So I think, prices will tend to stay below this level. But honestly, I can not give you a prediction for April-June 2021. It looks for me like something between 1.1500 /1.1200 could be a reasonable estimation.

          My best, Karsten

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