Will the EUR/USD pair start moving despite the decline in volatility during U.S. trading hours, or will it remain on the sidelines?

Will the EUR/USD pair start moving despite the decline in volatility during U.S. trading hours, or will it remain on the sidelines?

24.11.2023

In the previous session, the U.S. dollar saw limited price movement as U.S. markets were closed for a holiday. The USD/JPY pair rose slightly from 148.891 to 149.692, returning above the 20-period moving average (MA) on the hourly chart.From a technical perspective, the USD/JPY pair has rebounded with a bullish candle featuring a lower wick, with the daily 75-day moving average (MA) acting as a support level, and appears to be entering an upward trend toward the upper end of the daily 20-day MA. As U.S. markets will have a shortened trading session today, traders should be wary of sudden price movements caused by reduced volatility.

European currencies saw the euro rise slightly against the U.S. dollar after preliminary figures for Germany’s November manufacturing and services PMI, released yesterday, showed a recovery in both sectors from the previous month.The EUR/USD pair rose from 1.0881 to 1.0930, trading in a narrow range along the 20-period moving average on the hourly chart. However, on the daily chart, the RSI has reached 70, indicating an overbought condition, so traders should pay close attention to price movements during European trading hours.

Today’s economic indicators include German GDP and Turkey’s capacity utilization rate at 4:00 PM, the German IFO Business Climate Index at 6:00 PM, remarks by ECB President Lagarde at 7:00 PM, Mexico’s real GDP and Brazil’s FGV Consumer Confidence Index at 9:00 PM, Canadian retail sales at 10:30 PM, Mexico’s current account balance at 11:00 PM,and at 11:45 PM, US PMI. With volatility expected to decline during US trading hours on the final day of the weekend, I’ll be watching to see if the EUR/USD pair makes a move.

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