Should we wait and see how the euro-dollar pair performs after three consecutive days of gains?

Should we wait and see how the euro-dollar pair performs after three consecutive days of gains?

13.02.2025

In the U.S. currency market yesterday, the Canadian dollar surged sharply against the yen. The CAD/JPY pair rose from 106.597 to 108.280, establishing an uptrend along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the price has broken above the 200-period EMA, which had been acting as an upper resistance level, and on the daily chart, it has significantly surpassed this month’s high. We will need to monitor price movements during U.S. trading hours to see if the Canadian dollar continues to gain strength against the yen.

Among European currencies, the euro strengthened against the U.S. dollar. The EUR/USD pair rose from 1.0317 to 1.0429. On the hourly chart, the candlesticks moved upward from the -3σ to the +3σ Bollinger Bands. On the 4-hour chart, the pair has risen to a level where it could break this week’s high. On the daily chart, it is approaching this month’s high and is currently aiming to reach the resistance line at the 75-day moving average.

Today’s schedule includes Japan’s Domestic Corporate Goods Price Index at 8:50, UK Q4 GDP, UK Industrial Production, UK Manufacturing Output, and Germany’s Consumer Price Index at 16:00; Switzerland’s Consumer Price Index at 16:30; the ECB’s Monthly Report at 18:00; andIndustrial Production, at 10:30 PM U.S. Initial Jobless Claims and U.S. Producer Price Index, at 12:30 AM U.S. Weekly Natural Gas Inventories, at 2:00 AM remarks by German Bundesbank President Nagel, and at 3:00 AM a U.S. 30-year Treasury auction. I intend to cautiously monitor the upside potential of the euro/dollar pair, which has been rising for three consecutive days.

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