Markets hold breath ahead of Fed decision: EURUSD poised for growth
The EURUSD pair is regaining ground, with bulls aiming to test the 1.1495 resistance level. Discover more in our analysis for 6 May 2025.
EURUSD forecast: key trading points
The ISM services PMI in the US rose in April, exceeding analyst expectations
The Federal Reserve’s two-day policy meeting, concluding on Wednesday, will be one of the week’s key events
Most market participants do not expect any change in the interest rate
EURUSD forecast for 6 May 2025: 1.1615
Fundamental analysis
The EURUSD rate is showing moderate recovery as buyers keep the pair above the key support level at 1.1265. The US ISM services PMI rose to 51.6 in April from 50.8 in March, beating the forecast of a drop to 50.6. Although a reading above 50.0 signals expansion, the upbeat data only briefly supported the US dollar.
The main focus of the week is the Federal Reserve’s two-day meeting, which concludes on Wednesday. Investors are looking for signals regarding potential monetary easing. Despite strong US labour market data, most market players expect the Fed to leave rates unchanged. This supports a moderately bullish outlook for the EURUSD pair.
RoboForex Market Analysis & Forex Forecasts
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team