EURUSD Forecast: Double Top Risks in SightEuro / U.S. DollarFOREXCOM:EURUSDFOREXcomThe analysis on EURUSD is quite similar to the DXY, on the inverse. There is consolidation below the 1.20 mark extending on the charts between June 2025 and January 2026, taking the shape of a possible double top pattern formation. Bearish scenario Closing below the double top neckline at the 1.14 zone exposes the pair to an extended drawdown back towards the upper bound of a respected down trending channel since the highs of 2008, near the 1.12–1.11 zone, for a dip-buying opportunity. Falling back below this zone and within the bounds of this channel reinforces longer-term dominance for the dollar against the euro once again. This scenario aligns with the DXY’s bullish scenario mentioned earlier. Bullish scenario Closing back above the 1.1660 level extends gains towards the 1.1760 and 1.1860 marks, re-exposing the pair to further upside towards the 1.20 mark and potentially towards the 2022 and 2018 highs near 1.23 and 1.25. Written by Razan Hilal, CMT