The EUR/USD exchange rate forecast for today, October 23, 2024, is generally bearish. Currently, the market sentiment suggests a weakening euro against the dollar, with the pair hovering around $1.07959. Most technical indicators are signaling a sell, reflecting oversold conditions in the euro, and predicting potential downward movement. Key levels to watch include a short-term target price of around $1.0948, with a possible range between $1.0926 and $1.0976.
Short-term moving averages are also bearish, and volatility is expected to be moderate in the coming days. Analysts project that the euro might regain some ground later this week, but the overall trend is still likely to favor the dollar due to ongoing market sentiment and technical indicators.
Longer-term forecasts predict fluctuations, with some analysts expecting a slight recovery for the euro toward the end of 2024.
Please note that the above content does not guarantee profits, so make your own decisions when trading.