Attention is turning to the euro-dollar pair’s ability to recover after breaking below last year’s low

Attention is turning to the euro-dollar pair’s ability to recover after breaking below last year’s low

25.11.2024

In the U.S. currency markets last weekend, the U.S. dollar strengthened against the euro. The EUR/USD pair fell from 1.0496 to 1.0334, marking its third consecutive week of declines. Having already hit new lows for the year and broken through last year’s low, the pair has lost a significant support level; the next key support level is around parity. We will be watching closely to see if the U.S. dollar loses momentum at the start of the week.

European currencies fell as the pound weakened against the U.S. dollar following the release of U.K. retail sales data for October on the 22nd, which showed a year-on-year decline of 2.4%—down from 3.9% the previous month. The GBP/USD pair fell from 1.2593 to 1.2487.The decline occurred as the pair encountered resistance at the 20-period moving average (MA) on the hourly chart. Similarly, on the 4-hour chart, the pair pulled back upon touching the 20-MA, and on the daily chart, the downtrend along the 10-MA continues.

Today, at 2:00 PM, Singapore’s Consumer Price Index and Japan’s Economic Trends Index will be released; at 4:00 PM, Turkey’s Capacity Utilization Rate; at 5:00 PM, Taiwan’s Industrial Production; and at 6:00 PM, Germany’sIFO Business Climate Index, at 7:30 PM UK MPC member Dingra’s remarks, at 10:30 PM US Chicago Fed National Activity Index, at 12:30 AM US Dallas Fed Manufacturing Activity Index, at 2:30 AM German Bundesbank President Nagel’s remarks, and at 3:00 AM US 2-year Treasury auction.We will be watching for signs of a recovery in the EUR/USD pair, which has broken below last year’s low.

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