EUR/USD/Flows and Orders

EUR/USD: Stops triggered in thin ‘twilight’ trade

We’ve seen this many times before as interbank dealers and Algos take advantage of thin trading conditions right after the NY close to trigger stops. In this case they were sitting right above 1.3085 and have been duly triggered. The ‘unchanged’ Moody’s rating on Spain may have been the trigger but it was all about getting the stops done.

  1. Not sure Jason, normally these cynical stop hunts retrace almost immediately but the break above 13085 is technically significant so I’d say wait a bit and see how it develops. I’m short from overnight with a stop only 15 pips higher so I’m hoping its a false break 🙂

  2. Sean, nice to read your stuff again. Btw, can you have the exact time of your post show up with the date (as on FXL), so we can co-relate it with the market action at that time?

  3. Ah, hadn’t noticed that. With all the confusion that daylight savings causes especially to us in Oz, it would be better if the time referred to GMT!

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