Euro Dollar: Close to $ 1.2400, the Euro breathing Thursday, June 17, 2010 at 11:44

The Euro continues to resistance in a channel centered at consolidation horizntal $ 1.2300, traders are the sentiment shared among the one hand the temptation to shirk Dollars, in a rather favorable equity markets, and fears still vivid on the front of the public debt in Europe. On this point, rumors are now rife about the possibility of the preparation by the International Monetary Fund and the European Union, a plan of assistance in the form of loans to Spain.

Around 11:15, the spot euro / dollar is approximately 1.2355.

From a graphical perspective, the entry point for playing an extension of catching up began on June 8 is now less and less relevant. We prefer to remain outside the market, and avoid taking positions on the currency pair euro / dollar in the short term.
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 1.2450 revive the purchase of 1.2300 while a failure would boost the selling pressure.
On the macroeconomic front, the agenda will be rich this afternoon with U.S. publications include: the price index and weekly unemployment registration at 14:30, then the index of the Philadelphia Fed index and the indicators Developed under the Conference Board at 16:00.

Hourly data chart:


Daily data chart: