Euro Dollar: Rebound in trompe l'oeil on the Euro? Thursday, May 27, 2010 at 11:59

Euro recovers slightly against the dollar this morning, but remains under pressure due to lingering concerns on the front of the budgetary problems of the States of the Euro Zone the most vulnerable. If Greece continues to worry investors, Spain is not without bringing its share of concerns, particularly following the chilling message even sent this weekend across the Pyrenees, with the rescue by Bank of Spain, a small savings bank (Cajasur).
However, the single currency accords some respite in the wake of renewed confidence in the short term in the trading rooms of the Old Continent. Even as the major U.S. indices fall into the red.

Around 11:45, the spot EURUSD is growing, near 1.2280.

From a graphical perspective, the cross draw for very short term, a structure Chartist shoulder - head - shoulder that invites to anticipate new releases. The comeback of the original seller is now consensus view, and traders will not hesitate to Shorter-European currency, in an area close to 1.2154.
In this context, the team Tradingsat.com delivers a negative opinion for the next few hours and offers traders to initiate short positions by targeting 1.2155, while placing the stop loss above 1.2340.
On the macroeconomic side, traders will learn about the enrollment weekly U.S. jobless at 14:30. (Paris time)

Hourly data chart:




Daily data chart: