EUR crosses/EUR/USD

EUR/USD: Nice bounce out of early European lows

Very solid bids at 1.2870 are underpinning the EUR/USD and the pair pulled up at 1.2880 before bouncing, helped along by EUR/GBP buyers trying to trigger stops above .8020 (stops are still safe I’m hearing so they must be nearer .8030 as we’ve just traded above .8020). Very choppy noisy markets and very difficult to trade intraday unless you have direct access to big flows and orders.

  1. heard there was an european semi-official buying off lows. who are the semi-officials? BIS? dint get a chance to ask my source

  2. Possibly Maji, I have heard them described be4 as a semi-official. I have heard no mention of them today so I cannot confirm. Very solid bids 12870 reports big Euro investment bank++

  3. We’ll probably have the same scenario today as the previous few days. Risk-off in Asia, improvement during London into early NY and then a sell-off in late NY. Running with the CB bids was not a bad strategy the last 2 days.

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