A decline in US GDP could offer the euro an opportunity to strengthen, pushing EURUSD quotes towards 1.1565. Discover more in our analysis for 30 April 2025.
EURUSD forecast: key trading points
- Eurozone Q1 GDP: previously at 1.2%, projected at 1.0%
- US Q1 GDP: previously at 2.4%, projected at 0.2%
- EURUSD forecast for 30 April 2025: 1.1565 and 1.1315
Fundamental analysis
Gross Domestic Product (GDP) represents the total value of all goods and services produced in a country, calculated based on final products excluding raw material costs.
The forecast for 30 April 2025 appears pessimistic, suggesting that the eurozone's GDP may fall to 1.0%, down from 1.2% in the previous quarter. If the actual figure matches or falls below the forecast, it could weigh on the euro.
Fundamental analysis for 30 April 2025 also takes into account the release of US GDP data, which is expected to plunge to 0.2% from the previous 2.4%. A sharper decline in US GDP compared to the eurozone may hurt the US dollar and trigger growth in the EURUSD rate.
EURUSD technical analysis
On the H4 chart, the EURUSD pair has formed an Engulfing reversal pattern near the lower Bollinger band. The pair currently maintains its upward trajectory in response to this signal. Since the price remains within an ascending channel, further growth towards the nearest resistance at 1.1565 is expected. A breakout above this level would open the path for continued bullish momentum.
That said, a temporary correction in the EURUSD rate towards 1.1315 is possible, followed by renewed upward pressure after testing the support level.
Summary
Amid weakening US economic data, today's EURUSD forecast is rather optimistic. Alongside the EURUSD technical analysis, it suggests a rise towards 1.1565 after a correction.
