Euro Dollar: Opinions still bearish on the Euro Tuesday, June 8, 2010 at 11:38

The oscillations on the spot Euro / Dollar will be stable in the short term, but the configuration remains highly bearish. The single currency is time for a break through the finalization by the European Ministers of Finance of the European support fund, a mechanism designed to prevent the crisis from spreading Greek to other members of the Eurozone. International Monetary Fund Loans included, the overall budget of the plan amounted to 750 billion euros. Nevertheless, doubts persist about the ability of European countries most vulnerable to control their level of public deficits, and in a disturbance on the entire family active so-called "risky" situation remains very tense in our currency facing a dollar that finds its safe haven qualities.

Around 11:30 am, the spot EURUSD is approximately 1.1910.

From a graphical perspective, the cross is currently completing the route a small phase of consolidation in the plan schedule. Its failure to pass a level to $ 1.20 for enhances the time probalilités a comeback in the short term the current original vendor. It will take a position on the sale immediately on the currency pair euro / dollar, targeting an area near the $ 1.1800.
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 1.1801, while placing the stop loss above 1.1950.
On the macroeconomic side, traders will learn the level of German industrial production at 12.00. (Paris time)

Hourly data chart:


Daily data chart: