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

• 

  DXY Pattern Redux

  Jun 29, 2026 15:05 | 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 ..

• Silver Confluence

  Jun 10, 2026 14:48 | by Ashraf Laidi
  Take a look at the message from Silver's daily and weekly charts. Does this mean $60/oz is inevitable? ..

• Nasdaq 29700 to 29750

  Jun 9, 2026 12:29 | by Ashraf Laidi
  The 3 hr chart on Nasdaq highlights the importance of the 29700/50 region, serving as as a high on May 14/15, low on May 28 and Monday's high.