Will the euro’s recent strength continue? All eyes are on its direction.

Will the euro’s recent strength continue? All eyes are on its direction.

28.03.2023

In yesterday’s U.S. currency trading, the U.S. dollar weakened against the euro, and the EUR/USD pair rose slightly from 1.0745 to 1.0819. On the 4-hour chart, the EUR/USD pair has rebounded after finding support at the 75-period moving average. On the daily chart, the pair has rebounded after forming a triple bottom with the 200-period exponential moving average acting as support; therefore, we should watch to see if the U.S. dollar’s decline will continue for a while.

European currencies rose against the yen, led by the euro, which gained ground after Germany’s March IFO Business Climate Index, released yesterday, rose to 93.3 from 91.1 the previous month.The EUR/JPY pair rose from 140.535 to 142.213, breaking above the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the pair appears to be forming a double bottom, having found support at lower levels. On the daily chart, a battle is underway just below the 200-period exponential moving average (EMA), so we will be watching currency strength during U.S. trading hours.

Today, at 5:45 PM, we have remarks by Bank of England Governor Bailey and Deputy Governor Ramsden; at 9:30 PM, U.S. wholesale inventories;at 10:00 PM, remarks by ECB President Lagarde and Bundesbank President Nagel, along with the U.S. S&P/Case-Shiller Home Price Index; at 11:00 PM, the U.S. Consumer Confidence Index, the U.S. Richmond Fed Manufacturing Index, and remarks by Fed Vice Chair Barr; and at 2:00 AM, a U.S. 5-year Treasury auction.We will be watching to see if the euro’s recent strength continues.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran