Will the falling euro-dollar pair rebound? Keep an eye on the direction.

Will the falling euro-dollar pair rebound? Keep an eye on the direction.

19.04.2024

In the U.S. currency market yesterday, the U.S. dollar faced resistance as the U.S. March Leading Economic Index, released yesterday, deteriorated from 0.1% the previous month to -0.3%. The USD/JPY pair rose from 153.963 to 154.667 before plummeting.It fell as low as 153.989. USD/JPY found support just below the 200-period EMA on the hourly chart and is now engaged in a battle around the 20-period MA on the 4-hour chart. On the daily chart, it remains above the 10-period MA, and with no particular divergence observed, traders should watch for a continued upward trend.

European currencies fell as the euro weakened against the U.S. dollar following yesterday’s release of the seasonally adjusted European current account balance for February, which came in at €29.5 billion, down from €39.4 billion the previous month.The EUR/USD pair fell from 1.0689 to 1.0641, breaking below the 20-period moving average on the hourly chart. On the 4-hour chart, the RSI is in an uptrend but has not yet broken through resistance, while on the daily chart, the RSI stands at 34. We will need to monitor price movements during U.S. trading hours to see if the euro’s decline continues.

Today’s economic indicators include Japan’s Consumer Price Index at 8:30, Malaysia’s trade balance at 13:00, UK retail sales and Germany’s Producer Price Index at 15:00, remarks by BOE Deputy Governor Ramsden and BOE Deputy Governor Breeden at 23:15, and remarks by U.S. Federal Reserve Governor Goolsbee at 23:30:Chicago Fed President, at 1:30 AM: UK MPC member Mann’s remarks, and at 4:00 AM: German Bundesbank President Nagel’s remarks. Keep an eye on the direction of the EUR/USD pair to see if it will extend its decline.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 15.04.2026New

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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 09.04.2026

   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?

8. 08.04.2026

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

9. 07.04.2026

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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed