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EUR/USD holding up well in late morning trade

By Gerry Davies  || July 15, 2009 at 09:28 GMT
|| 3 comments || Add comment

EUR/USD is holding up well in late morning trade, presently at 1.4065.  I’m hearing murmurings of Asian sovereign selling at session high 1.4070, but not overly convinced, so take it for what you will.

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3 Responses to “EUR/USD holding up well in late morning trade”

  1. Millward on July 15th, 2009 10:04 GMT

    Gday there Gerry…..any idea what volume was like yesterday and today with the cable………is there a lot of chewing on the buy side you may think………likewise e/u….my daily swing pattern is for a rise inside their respective wedge…..even with the cable intra-long heavy , if they are still chewing, it may prove a positive sign usa session………rise an profit-take……..just my educated guess :-)

  2. Gerry Davies on July 15th, 2009 10:56 GMT

    Hi Milllward no idea on volumes, sorry mate

  3. Millward on July 15th, 2009 11:11 GMT

    Gerry……….no worries……….. it’s just that my intradday method is having an unusual run of scratch trades in the g/u, when entering long……it’s trying to tell me something but I just don’t know what.

    Something is coming……..indeed……….if I’m running into distribution from lower level intradday, this drop will be good, if not 6400 is a breeze.



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