EUR/USD/Flows and Orders/Trade Ideas

EUR/USD: Capped for now below 1.3300 but more gains favoured

Real money and Sovereign players aren’t really busy at the moment but from what I’m hearing, both of these important market sectors are net buyers of EUR/USD and are likely to remain so for the near-term at least.

We may be in for some further range trading between 1.3150/1.3300 but I still favour a bullish break sometime soon which will likely target trend highs at 1.3485.

  1. Upon the changes found in options range in Chicago by the end of year I’d agree that further bullish moves are expected there to test last year highs. More questionable is EUR/AUD that either ready to break its weekly range under 30, or to stay in narow one for a while. Seemingly, 25th figure could make a good support.

  2. Hi Sean, good to see you back although I wasn’t expecting you till next week. I’ve just started trading today. Fortunately I’m on the right side of all the trades you call: long AUDUSD at below 1.04, long EU, long EJ and long UJ although near the tops. Wish you and all fxww readers good trading in 2013!

  3. Happy New Year! Hope Christmas was good to ya and same with the new year! Seems to be the logical play right now. On my Citi demo account been playing the range wonderfully. Short around 1.3270/80 stop above 1.3325 and target 1.3170 area. Been doing that for a couple of days and worked well. Sometimes ranges aren’t bad…too bad it wasn’t real money now.

  4. I don’t have the required 10K USD to go live. I’m on a live micro account with FXCM however. I do like Citi though because their spreads stay pretty constant. 1.6 spread for EUR/USD unlike FXCM which can widen to 3-5 pips during change over from NY session to Asia.

  5. I see that. I like it. FXCM is just starting a dealing desk trade now so I wonder how that will go may try a demo with them too.

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