Euro Dollar: Dollar Bet on the refuge Friday, June 4, 2010 at 11:53

If the configuration remains heavily bearish medium term the euro against the dollar, the currently undecided palapa in trading rooms, including equity markets, is still not clear meaning: the technical analysis of U.S. indexes, especially that of the index of technology stocks, the Nasdaq Composite, however, calls for greater caution in the top buyer of movement contestaire. If one were to attend a new recession of shares, the single currency, also classifiable assets at risk, would surely suffer a rush of investors to the dollar shelter. Especially since the issue of budgetary difficulties of a number of member countries of the Eurozone, continues to stifle our currency, preventing any attempt to technical rebound.

Around 11:30 am, the spot EURUSD is approximately 1.2200.

From a graphical perspective, it is clear that the structure known as 'bearish triangle' started May 10, over a support area located close to 1.2150 suggests the possibility of new releases heavy. On a smaller time scale, to schedule, the entry point is sensible short in the end contestaire upward acceleration in the moving average 100 hours (in orange).
In this context, the team Tradingsat.com delivers a negative opinion for the next few hours and offers traders to initiate short positions in the Euro / Dollar 1.2112 targeting, while placing stop loss at- above 1.2216.
On the macroeconomic front, the major event of the day is eagerly awaited the publication of official figures of U.S. unemployment rate. Statistics is scheduled for 14:30. (Paris time)

Hourly data chart:


Daily data chart