Category in Flows and Orders

AUD/JPY slips as technical resistance holds and Chinese comments weigh

Comments from the Chinese commerce minister that their economy faces challenges due to slowing demand certainly weighed on the AUD; Market ignored comments from ANZ that rate-cut cycle is over, suggesting that market might be long AUD in short-term; Trend highs and the 200-DMA are capping AUD/JPY at 94.45/65

USD/JPY: Looks to have topside scope to 99.50

The daily chart is still in a sideways pattern with scope for a move towards 99.50 (see chart); Some of the Yen crosses like AUD/JPY and EUR/JPY are nearing technical resistance levels; The market is still reporting some very large long positions amongst professional players but they have been very patient and resiliant; Range trading

No obvious trades as markets stay in doldrums

Nobody wants to trade ahead of tomorrow’s deadline and I’m certainly not blaming them. EUR/GBP: Technicals favour further losses imho and we can expect some volatility post-UK jobs data in 40 minutes; AUD/JPY is threatening to form a double-top at 94.10, worth watching for sure; AUD/USD option barriers at .9550 and .9600 (bigger); Real money

AUD: Cross-pairs staying busy, well supported

AUD/NZD triggered trailing stops below 1.1300/10 before bouncing; solid bids reported at 1.1280 from Prime Broker sources; AUD/JPY broke and closed above prior short-term resistance at .9340, now targeting recent trend highs near .9450 (see chart); AUD/CHF is also attracting attention amongst prime brokers and it seems that some bigger players are buying (most likely

AUD/USD: Looks set to test topside sell orders

AUD/JPY buyers are driving AUD/USD towards recent highs at .9480 and at least 2 of the local Australian banks have been consistently reporting solid selling interest between .9480/.9520. I’m still in range-trading mode for the AUD/USD in the shortish-term and prefer to buy big dips. This market was very bullish at 1.05 and very bearish

AUD outlook, Tuesday October 8th

No major orders reported within 80 pips either side of AUD/USD market; Important technical support in AUD/JPY 90.00/50; NAB business confidence data and HSBC services PMI on the economic calendar; Market trying to build longs in AUD/NZD, stops now building below 1.1310; China returns after week-long holiday and we may see some belated reaction to

Cable: Lack of momentum increase above 1.6160 infers top could be imminent

Price action usually tells us all we need to know about a pair and the fact that there was no momentum increase above previous highs at 1.6165 suggests to me that the market might be getting a bit overly long. I’m on heightened alert now and will book the remaining profits on my longs and

EUR/GBP: Major selling flows expected during European session

Our resident hedge fund insider @FXWW888 has been updating us via the FXWW-RM chat-room on all the latest news surrounding the big EUR/GBP selling flow which is due to be completed later today. Gossip has it that not all of the EUR4  billion has been completed. Overall downward pressure on EUR/GBP is likely to stay in

EUR/JPY lower in early interbank trade

The budget impasse and likely government shut-down in the US has heightened risk aversion across all markets; USD/JPY gapped lower on the open, taking out stop-loss sell orders below 97.75; EUR/USD also lost some ground as political turmoil returned in Italy; EUR/JPY fell to test trend-line support near 131.35 but has recovered