- Stops tripped above 1.3625 in EUR/USD with more reported above 1.3640;
- Stops tripped below 101.90 in USD/JPY;
- Asian real-money names noted selling AUD/USD rallies near .9050.
Early European traders chasing stops in USD/JPY and EUR/USD
AUD/USD now over 100 pips lower on the day
We saw highs near .9150 in very early trade this morning and the pair is still looking heavy, 115 pips later. More stops are expected below .9025 and the […]
USD/JPY looking very soft as crosses turn south
- Market is already quite long of USD/JPY according to most reports;
- EUR/JPY turned sharply lower yesterday after touching 140 and now it’s the turn of AUD/JPY to fall;
- More losses likely […]
AUD/JPY stops triggered below 93.05 after weaker than expected GDP
Q3 GDP came in lower than expected at +0.6% QoQ. This number is just another excuse for traders to chase stops and will be forgotten about in a few […]
USD/JPY: Reverses sharply as short-term market caught long
- AUD/JPY and NZD/JPY were both at top of recent ranges;
- EUR/JPY was exhausted after triggering a barrier at 140.00;
- Many PBs were reporting that the market had gotten ahead of itself […]
Big day for AUD with retail sales and RBA
- Retail sales for November expected at +0.4% MoM;
- RBA widely expected to leave policy unchanged at last meeting for 2 months;
- AUD/USD support at .9050/60 with stops expected below this level;
- AUD/NZD […]
Cable: Target filled at 1.6410
The first of my longer term targets at 1.6410 has been filled. Remember that we’ve come from 1.50 on this rally and momentum will start to wane at some […]
EUR/GBP: Stops triggered below .8290 in early interbank trading
I remember being on the receiving end of some dodgy GBP/DMK stops during early Monday morning trade over 25 years ago, and some things will never change. Some ‘brave […]
Cable: Partial take-profit orders set at 1.6410
As you all know I’m very bullish on cable and have been for some time but I’m also a realist and I’m well aware that there is no such […]
AUD/USD: Stops triggered below .9125 but no follow through thus far
- Little in way of technical support until .9060;
- AUD/NZD has broken cleanly below 1.1150 but is looking very oversold on medium term charts;
- AUD/JPY is only cross showing a spark of […]
USD/JPY: Sell orders reasonably light until 102.25/40
Not much in the way of heavy supply until 102.25 and above according to my Prime Brokerage contacts. Now that 101.55 has been overcome, we should expect dips towards […]
USD/JPY: Market eyeing resistance levels near 101.50/55
- Talk of a barrier at 101.50 which will be well defended;
- July highs at 101.55 directly above there;
- We can expect to see plenty of stops above 101.65/70;
- GBP/JPY still looks like […]
EUR/USD outlook November 25th: More gains likely
- Decent demand reported over the last few sessions and banks expect this to continue;
- End-of-month corporate demand and leveraged interest in EUR/AUD and EUR/JPY to the fore;
- Modest technical resistance near […]
AUD/USD and Cable update
- Prime broker reports stops just above 1.6200 in cable but sell orders also seen 1.6215/20 which should be enough to cap during Asian trade (unless large GBP/JPY demand appears […]
USD/JPY: 1.7billion in option expiries at 101.00 later today
That normally means that prices will gravitate towards this level as the expiry time approaches (NY cut).
USD/JPY: Very heavy turnover near 100.75
The interbank market is reporting some very heavy turnover near 100.75, which was a recent daily high. The next big technical level to watch above here is 101.55. I […]
EUR/JPY: Keep short stops above 135.70
- It’s Monday morning so we may get some silly moves but the fact that it hasn’t happened yet suggests that there are sell orders ahead of any stops;
- Technical resistance […]
Most flows in crosses during Asian trade
- The AUD has been well supported on the crosses with solid demand from a number of big Asian accounts;
- EUR/JPY and GBP/JPY have seen modest selling flows, also from some […]
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