Trichet Comments Give Euro slight Boost

This morning the European Central Bank left interest ratesunchanged as expected. ECB President helped move the Euro a little higher bystating that recent data has been stronger than expected partly due to temporaryfactors This morning the European Central Bank left interest ratesunchanged as expected. ECB President helped move the Euro a little higher bystating that recent data has been stronger than expected partly due to temporaryfactors, but the ECB still expects the Euro Zone’s economic recovery to bemoderate and uneven.

The Euro had a pretty uneventful night after Wednesday’sstrong surge. The market is currently trading inside yesterday’s range withtraders taking a cautious approach ahead of Friday’s U.S. Non-Farm PayrollsReport.

Should the Euro begin to weaken throughout the day, look forit to straddle a minor retracement zone at 1.2793 to 1.2754.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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