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

• GoldBugs & Levels

  Mar 3, 2026 16:14 | 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 - -...

• Weekly & Monthly

  Feb 27, 2026 13:54 | 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 5000?

  Feb 24, 2026 14:19 | by Ashraf Laidi
  Can gold drop back to $5000 per ounce. Here are 2 possible technical scenarios. China's return to the market could also bring back selling pressure during Asian session..