Euro's Channel

by Ashraf Laidi

Jun 3, 2009 12:51

Euro's 9-week uptrend remains intact in a rising channel... whose $1.4340 resistance proved to have held up for now. EUR rally pauses after Comments from Asian monetary officials in support of the USD and a retreat in European bourses in response to Tuesdays US pullback. A decline towards $1.4120 and $1.40 appears likely in the event of worse than expected figures in todays ADP report (exp -530K from -491K) and/or prolonged declines in equities ahead/after Fridays payrolls. But the uptrend would remain intact as long as no breach of $1.3970-80. Key support stands at $1.3785. Expectations of treasury purchases by the Fed remain the chief culprit to dollar weakness.

More Hot-Charts

• Gold & Nasdaq100

  Sep 28, 2026 10:32 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...
• 

  Gold & GoldBugs

  Sep 24, 2026 11:51 | by Ashraf Laidi
  If the inverse relation between gold and goldbugs index explained repeatedly in previous videos such as here  and here continues to work, then watching the 4230 level is as important as...

• Nasdaq Part 2

  Sep 24, 2026 9:44 | by Ashraf Laidi
  Now that Nasdaq has fallen following yesterday's post, will it extend declines to 30000. What do you think of this fractal.