Euro Dollar: The euro enjoys a slight rebound in market confidence

Euro shows significant gains in late morning against the dollar, a favorable climate made by a (which we consider very temporary) trust in the trading rooms. Witness the effect of "pull back" on European equity markets as American. Yesterday at the close, the Nasdaq Composite, to mention only this index soared 3.73% to 2278 points. But for now, no reversal is confirmed on the equity markets, which remain under the threat of a powerful new wave of releases. Like the Euro currency that continues to worry traders because of strong fears about the budgetary positions of a number of Member States of the Euro Area, forced to commit for many years on the road austerity.

Around 11:25, the spot Euro / Dollar is approximately 1.2410.

From a graphical perspective, the cross now covers, in a very short term perspective, a phase of consolidation above 1.2400. In those circumstances are not conducive to a good position on the currency pair euro / dollar, we prefer to remain liquid in the immediate future.
In this context, the team makes a neutral Tradingsat.com for the next few hours and offers traders stay out of the market in anticipation of next clear signs. However we take care to note that a crossing of the voltage to 1.2453 revive the purchase, while a breach of 1.2380 would boost the selling pressure.
On the macroeconomic side, traders have to deal with American publications include: income and expenditure of households to 14:30 Chicago PMI index to 1545 and then the confidence index from the University of Michigan at 15:55. (Paris time)

Hourly Data chart: