Euro Dollar: Towards $ 1.2400, the Euro clings Friday, June 18, 2010 at 11:10

The euro this morning clinging to a threshold to $ 1.2400, in a context still favorable on all risky assets, drawn up by the renewed confidence in equity markets, share and across the Atlantic. A good performance of the single currency which is also explained by the success of a bond issue in Spain. The borrowing capacity of the state assured the Iberian market, while speculation was growing about a possible use of a financial aid plan in the form of loans to the EU and the IMF

Around 10:45, the spot EURUSD is approximately 1.2400.

From a graphical perspective, cross Euro / Dollar clings for many hours at a threshold at $ 1.2400. We will build for now, in the absence of sharp technical indices, a further break in the immediate vicinity of 1.24. Traders, however, monitor closely the behavior of the spot at the approach of the moving average 100 hours (in orange for schedule).
In this context, the team issued a notice Tradingsat.com neutral for the next few hours and offers traders stay out of the market on the currency pair euro / dollar in the short term. However, we take care to note that a crossing of the voltage to 1.2425 revive the purchase of 1.2340 while a failure rekindle selling pressure.

Hourly data chart:



Daily data chart: