EUR crosses/EUR/USD/FXWW News

EUR positioning at relatively neutral levels overall

I’m really not sure what to make of the EUR/USD overall, and this is the one pair which is unsettling my overall view of the market. Prime broker reports suggest that overall EUR positioning is relatively neutral, with bigger players sitting on long EUR/JPY and EUR/AUD positions but the overall market tending to be short EUR/USD.

This had me thinking that EUR/USD would tend to trade sideways in a broad 1.28/1.35 sideways range whilst the crosses would readjust lower though higher AUD/USD, lower USD/JPY etc. But, if the market were to really get bearish EUR it still has plenty of scope to build positions and this for me is the big unknown factor.

  1. Good evening Sean,

    Are you still in cable ? Did you reduce ? From my side, I like the sell rallies trade idea on EUR/JPY but I haven’t any propositions for now.

  2. No mate, got stopped out, didn’t even get chance to react as it fell so fast. I’ll sit back and watch for a few days, need to watch EUR/USD and EUR crosses very closely

  3. Gday Sean
    just dropping in a line, nothing major to add. Ever since mid-week I’ve also lost the connection with Mr Market’s mood, and it looks like I’m not alone. EURUSD’s continued resilience astounds me….I tried selling the crap out of it back in April, and look where we are now, still at the same level. I’ve played JPY this week for minor +%, but retreated to cash prior to the ECB event. So far, FXWW888’s shortcut to the Reuters comments is the only thing that makes sense to me so far, but timing & levels are crucial and I haven’t worked out the best time and place to express those ideas in this climate. Call it a gut feeling, but I think its going to be choppy over the next few weeks and a lot of people are gonna get hurt…just gotta make sure we’re not that camp…

  4. Hi, Sean, Could you please have a look on EURGBP? Yesterday I missed the long trade but shorted it average at 0.8602 with heavy amount, still hold it or partial close? The tortoise seems showing his teeth now, but no doubt medium term is bearish……Thank you!

  5. Wise words Chngster, its also a good talent to be able to recognise choppy mkts; you can save yourself a fortune if you can. I’m hanging up my pencil for the week, it’s been expensive enough already, no point in throwing good after bad.

  6. Hi Yue, I don’t like the sound of ‘heavy amount’, I don’t think these mkts deserve big positional risk. I’d play it tight looking for quick swing trades. I’m really not sure at moment about overall directions so I’m pretty flat apart from small core long AUD/USD.

  7. OK, I’ll close 2/3 amount to see what happens……I always forget to calculate the S/L amount, only think of the one direction trade, which could lead to very embarrassed in one or two trade, hehe…… Thank you very much for your advice! Have a great weekend, Sean!

  8. Hi Sean,
    with AUD rather oversold and looking for a retracement while EUR is generally weaker against USD, would have a potential for EUR/AUD.Might be premature to state a double top but you never know.

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