Should we wait and see how the EUR/USD exchange rate develops as the downtrend continues?

Should we wait and see how the EUR/USD exchange rate develops as the downtrend continues?

09.01.2025

In the U.S. currency market yesterday, the Canadian dollar fell against the yen. The CAD/JPY pair dropped from 110.278 to 109.872. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the pair is maintaining the upward rebound trend that has continued since the start of this month, trading above the 20-period MA. On the daily chart, the upside is facing resistance just below the 200-period simple moving average (SMA).

Among European currencies, the euro fell against the U.S. dollar. The EUR/USD pair dropped from 1.0357 to 1.0273, marking its second consecutive day of decline. On the 4-hour chart, prices have reversed near the 75-day moving average (MA), while on the daily chart, a downtrend—with resistance at the 20-day MA—has persisted since last October. We will be watching price movements during European trading hours to see if the euro shows signs of a reversal against the U.S. dollar.

Today’s schedule includes German industrial production and trade balance at 4:00 PM, the ECB’s monthly report at 6:00 PM, Eurozone retail sales at 7:00 PM, U.S. Challenger job cuts forecast at 9:30 PM, remarks by U.S. Federal Reserve Bank of Philadelphia President Harker at 11:00 PM, and remarks by U.S. Federal Reserve Bank of Richmond President Collins at 11:05 PM.Boston Fed President, at 1:00 AM UK time: Remarks by BOE Deputy Governor Breeden, at 2:45 AM: Remarks by U.S. Richmond Fed President Barkin, and at 3:35 AM: Remarks by U.S. Fed Governor Bowman. I intend to carefully monitor price movements in the EUR/USD pair, which remains in a downtrend.

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