EUR/USD/Flows and Orders

EUR/USD: Order interest 1.3070/80

Light stops reported below 1.3080 but solid bids also seen (1.3065/70). Check the members section throughout the day for more order updates.

  1. Regarding EURUSD,

    The market is uncertain this morning which suggests we might have a highly volatile session. NOT A GOOD DAY TO TRADE IMHO! The positive Chinese economic numbers did not generate a real rally. This suggests that further fall might be in the menu. The EURUSD is not overbought as it was yesterday but it is very possible that it will come oversold today if it moves down to 1.3050, offering a beautifull buy opportunity. A dangerous double top is starting to form on a daily basis btw. Spanish bonds are flirting with the bollinger band resistance, and are signaling a possible rally in the bond market. If bonds fall below 5%, one should buy EURUSD since this would be extremely bullish. But we doubt this is going to happen, and a likely rebound or stagnation at this levels is set to occur imho.

    My recommendation for today is to wait for the EURUSD to fall closer to 1.3050 to start buying with SL below 1.30. Otherwise if we rally up again towards 1.317 we should go short as I mentioned yesterday all the way up 1.324 with SL above 1.325.

  2. Thanks for the info Sean. The upward momentum seems very strong. Just closed my short, made some dinner money. Looking forward to dinner now, instead of staring at monitors all day long 🙂

  3. EURUSD demand level is at 1.3057. Im willing to buy there from those novice trader for a bear trap if they thought to take those break out below.

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