Euro Dollar: Tensions less keen on the Euro Wednesday, May 26, 2010 at 12:11

The Euro is changing slightly down this morning, the gauge of confidence of traders are still constrained by the long record of public debt problems in the Euro Zone, and more recently by the tense situation between North Korea and South. However, the single currency, if it remains under pressure, changing now in narrow ranges against the dollar in a favorable context, an optical technique in the short term, equity markets on both sides of the Atlantic. The major U.S. indexes (Dow Jones and Nasdaq Composite) have dramatically limited their losses late in the session, and by late morning, the major exchanges in the Euro zone show significant gains. What to bring some respite to the pan-European currency.

Around 12:00, the spot euro / dollar is approximately 1.2320.

From a graphical perspective, the sequence of two candles in daily doji in volatility become reduced, reflecting the indecision of traders cross the short term. In the absence of strong technical signs, we prefer simply to avoid taking a position on the euro / dollar in the short term. Neutral opinion.
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 1.2400 revive the purchase of 1.2262 while a failure rekindle selling pressure.
On the macroeconomic side, traders will learn about American publications following this afternoon: Durable goods orders at 14.30, the new home sales at 16:00 and weekly reports on oil stocks at 16.30. (Paris time)


Hourly data chart:



Daily data chart: