EUR crosses/EUR/USD/Flows and Orders

EUR/USD: More stops reported below 1.3040

Dealers report that more EUR/USD longs have headed for the sidelines below 1.3065 and there are more stops directly below 1.3040. Don’t expect any massive sell-off just yet as some of the other big German banks are reporting buying interest at 1.3025/30 which should be tough to break.

Looking at the crosses, EUR/JPY is also likely to have trailing stops below 127.00.

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