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Large fixing flows expected today

Posted on - February 27, 2015 7:49 am (Australia/Sydney) |
Most of the big banks are expecting very significant end-of-month fixing flows later today and all the reports that I’ve read so far suggest that these flows will be heavily USD negative with the GBP expected to be the main beneficiary. Overnight price action certainly doesn’t agree with these presumptions but it’s probably wise to […]

EUR/USD: Professional market still looking to sell despite Greek debt extension

Posted on - February 23, 2015 7:54 am (Australia/Sydney) |
Most of the research and trade strategies that I’m reading this morning from banks and professional traders shows that nothing much has changed despite the 4-month debt extension. Traders are still very much in sell-rally mode. The big levels to watch topside would seem to be around 1.1550, as a break above that will have […]

AUD/USD: Short-term exotic structure .7750/.7850

Posted on - February 20, 2015 11:18 am (Australia/Sydney) |
I’m not sure of the exact levels but the weight of bids towards .7750 and the weight of offers towards .7850 suggest that this is indeed a quick 100 pip play by one of the bigger players. All of the bigger interbank players were reporting similar order books yesterday. One source tells me that this […]

AUD/USD: Reserve buyers noted on dips today

Posted on - January 22, 2015 7:59 pm (Australia/Sydney) |
Some nice snippets in the FXWW chatroom today regarding the AUD/USD. Reserve buyers have been notable on dips, and their amounts are usually significant. On the flip side, one of the big local banks reported that offers have been lowered from .8250 to .8150 by corporate and macro accounts.

EUR/USD: Should find support from option expiries #FXWWchatroom

Posted on - November 3, 2014 12:13 pm (Australia/Sydney) |
Huge 1.25’s rolling off Monday and Tuesday 5 yards plus on Tuesday. You have to think it wont go to far until they roll off Just posted in the FXWW chatroom

EUR/USD: Barrier protection ahead of 1.3150

Posted on - August 27, 2014 10:42 am (Australia/Sydney) |
There have been some reports in the last few minutes in the FXWW chatroom of decent-sized selling flows in EUR/CAD and of strong bids ahead of an expected 1.3150 barrier in EUR/USD. There is an increasing expectation that the ECB will roll out some special easing measures as early as next week and that is fuelling […]

AUD/NZD: Gapping higher in stop-driven markets

Posted on - August 25, 2014 7:26 am (Australia/Sydney) |
Firstly it was EUR/USD where the stops were targeted, now its AUD/NZD which is the market focus. The market gapped nastily through 1.1100/10 to trade above 1.1150. There is very little technical resistance until 1.1200.

NZD/USD: Orders reports suggest ‘buy-dip’ intraday strategy

Posted on - August 12, 2014 8:16 am (Australia/Sydney) |
AUD/NZD: There are still reports of large stops below 1.0920 and a quick look at your charts will explain why they are there; AUD/USD: Solid corporate bids are reported near .9230/35 with more optionality at .9200. Sounds like a ‘buy-dip’ intraday strategy could pay dividends in NZD/USD and strong technical support at .8400 should attract […]

EUR/GBP: Happy to trade either side at the moment

Posted on - August 3, 2014 8:33 pm (Australia/Sydney) |
The overall bias is still bearish but the market is caught short in thinning August markets, hence the rally at the end of last week; This pair has fallen a long way in a short space of time, so relief rallies are to be expected; I’m quite happy to try trading 50 pip moves either […]

Levels to watch in Asian session, July 28th

Posted on - July 28, 2014 7:50 am (Australia/Sydney) |
USD/CAD: 200-dma at 1.0830; EUR/USD: Large expiries tomorrow at 1.3450; Cable: Market eyeing 1.6925 as next important downside level; USD/JPY: Seemingly immovable obstructions 101.00/102.50 AUD/USD: Options players also all over this pair and with volumes heavily reduced from speculative accounts, breaking the range will be hard work.

NZD/USD: Model funds triggering stops below .8590

Posted on - July 24, 2014 3:11 pm (Australia/Sydney) |
Most of the action is still in the flightless bird with stops triggered below .8590 in NZD/USD and the AUD/NZD cross trading above 1.1000.

AUD trying to edge higher after China flash PMI

Posted on - July 24, 2014 12:14 pm (Australia/Sydney) |
The number was slightly above expectations and the market seems happy to try buying the AUD. AUD/NZD got a boost after the RBNZ this morning and there are big levels looming above 1.1000. AUD/USD looks like it will now gravitate towards big option strikes/expiries at .9500 and .9525.

Cable: Macro stops building below 1.7055

Posted on - July 14, 2014 8:04 pm (Australia/Sydney) |
A reliable Prime Brokerage source suggests that we could be in for quite a battle if cable trades down towards 1.7070. There are decent bids starting near there but there are also heavy macro-type trailing stops below 1.7055. With little else to move the market at the moment, these orders may act like a magnet. […]

AUD should be well supported on intraday dips

Posted on - June 26, 2014 11:55 am (Australia/Sydney) |
Iron ore futures are +1.75% in early Asian trade; End-of-fin-year flows are expected to be AUD positive (although most of bigger flows are surely already complete).

Levels to watch in majors as USD struggles during Asian trade

Posted on - June 23, 2014 12:33 pm (Australia/Sydney) |
USD/CAD: Technical support at a 50% retracement level 1.0725; AUD/USD: Recent daily highs at .9460; Cable: Recent daily highs at 1.7060. EUR and JPY are also making modest session gains against the USD but all 3 big currencies are range trading against each other.

Cable: Market still eyeing stops above 1.7020

Posted on - June 19, 2014 10:20 am (Australia/Sydney) |
I’m hearing pretty much the same story as yesterday, a decent sized sell order near 1.7010 is still capping the market and protecting stops above 1.7020 for now. Bids are being reported now quite close to the market at 1.6960/65 which does seem to support the idea that the short-term market is short and nervous.

AUD/USD: Option players still dominating ranges

Posted on - June 11, 2014 9:28 am (Australia/Sydney) |
I’m sticking with my strong buy-dip bias in the AUD/USD and I expect the AUD to continue to make strong gains on the crosses. But we may well be in for a few months of broad sideways trading between .92/.95 and this seems to be the way that the options market is calling it. The […]

USD/JPY: Hedge funds main driver behind recent rally

Posted on - June 4, 2014 9:26 am (Australia/Sydney) |
It’s getting increasingly hard for professional traders to generate any returns in these markets and it’s no surprise to see hedge funds clambering once more onto their favoured USD/JPY long trade in the hope of a developing trend. The clever ones bought in around 101.00 when the stops were being triggered and the Japanese semi-official […]
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