Attention is likely to focus on the euro’s price movements during European trading hours

Attention is likely to focus on the euro’s price movements during European trading hours

05.07.2022

In the previous session, U.S. currency markets lacked direction due to a U.S. holiday, and the EUR/USD pair traded within a range of 1.0416 to 1.0462. On the 4-hour chart, the EUR/USD is caught between support at the lower end and resistance at the 20-day moving average; therefore, I intend to remain on the sidelines until a clear trend emerges.

European currencies fell against the Oceania currencies yesterday, partly due to Germany’s trade balance slipping into the red.The EUR/AUD pair fell by more than 180 pips from 1.5353 to 1.5169. This resulted in a significant break below the 20-period moving average on the 4-hour chart. However, since the price has not yet established a new low, attention should be focused on whether the pair will break below the recent low of 1.5062 with a closing candle.

Today, at 15:45 Asia time, France’s industrial production and manufacturing production index will be released; during European trading hours, at 16:50, France’s services PMI; at 16:55, Germany’s services PMI; at 17:00, the Eurozone’s services PMI; at 17:30, the UK’s services PMI; and at 18:30, the UK’sthe BOE Financial Stability Report, a press conference by BOE Governor Bailey at 19:00, Canadian housing starts at 21:30, and the U.S. manufacturing orders index at 23:00. We will be watching the euro’s price movements as we move into European trading hours.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?