EURUSD rallies: parity is forgotten

The EURUSD pair is hovering around 1.0806 on Thursday, with the euro reaching the high seen in early November 2024. Find out more in our EURUSD analysis for 6 March 2025.

EURUSD forecast: key trading points

• The EURUSD pair hit highs observed in early November 2024
• Germany’s plans and the general positive sentiment about the eurozone outlook support the euro
• EURUSD forecast for 6 March 2025: 1.0820

Fundamental analysis

The EURUSD rate rose to 1.0806, which was last seen by the market on 8 November 2024.

The US dollar is under pressure from a strong euro and evolving consequences of President Donald Trump’s tariff policy. New US trade tariffs on Canada, China, and Mexico have provoked retaliatory measures from these countries. This stance raises concerns about escalating trade wars, which could slow down US economic growth.

The market is now awaiting fresh US employment statistics. The ADP data showed that the US private sector added just 77 thousand jobs in February, the smallest gain in seven months. The main reports are due on Friday.

The euro is rising as the 500 billion euro infrastructure fund proposed by Germany and plans to reconsider borrowing rules have improved the eurozone outlook. The ECB meeting is scheduled for today, with the regulator likely to lower the interest rate to 2.65% per annum from the current 2.90%.

The EURUSD forecast is favourable.

EURUSD technical analysis

On the EURUSD H4 chart, the nearest upside target is 1.0820.

If the momentum continues, the next target will be 1.1000.

Summary

The EURUSD pair soared above 1.0800 and appears very confident. The market positively assessed Germany’s plans to create an infrastructure fund. The White House’s trade tariffs are working against the US dollar. The EURUSD forecast for today, 6 March 2025, suggests a growth wave to 1.0820. If all goes well, investors will then focus on an upward movement to 1.1000.