AUTOREFRESH 
EUR/USD: Heavy trailing stops above 1.3700
By Sean Lee || February 28, 2010 at 23:37 GMT
|| 14 comments || Add comment
There was a lot of Sovereign selling noted on approaches to 1.3700 on Friday last. It seems that they are happy to buy on the approach to 1.34 and off-load on any decent rallies. Easy money if you can get it. With short positions in the EUR now at record levels above 70k contracts, it is little wonder that the trailing stops are building. 1.3700 the big level to watch.
Have a dry weekend all 
Almost afraid to buy the EUR with the problems in Spain added to Greece, etc. This has been a tough nut to crack since the first of the year.
Hi Sean will asia do a short squeeze or will they wait for ny ?
Think it’s possible Burt, lots of eur/usd stops above 1.3700
It appears they have done a good job of staving off the enevitable still being able to string the markets along, but fundementaly the Euro is a flawed currency just look at the member states the majority don’t have two happence to rub together!
along with rising unemployment and civil unrest ticking bomb!
Just my views, Still a way to go yet though!
No German rescue plan for debt-ridden Greece … http://news.smh.com.au/breaking-news-world/no-german-rescue-plan-for-debtridden-greece-20100301-pbj7.html
Hello Sean,
Quick question from a newbie to Forex; Where do you find this kind of information from? Other traders let you know where there stops are? Is it available somewhere? Or is it exclusive info. that you can’t tell me about? Haha thanks
Hi Sean and everybody,
Good week/month/spring to everyone!
Now…Lets make some money!!
Where do you see the Eur/Usd Sean this week? I think it will top at 37 to fall as much as 34 again until midweek where PM Papandreou will declare new austerity measures on national TV. I think a rebound will start after that to higher levels…
Hey Rogue, nice to hear from you. I get my order information from colleagues at banks, brokers and hedge funds. This type of info isn’t publicly available anywhere.
Hi Kensai. Sounds good to me. If you’re bearish though, wait until stops above 137 get done and then sell towards 13750 I’d say and look to buy back at 13600ish and then do it all over again.
Sean,
First I need to say that was excellent analysis on friday. You were spot on when you said the intial target for EUR/USD rally was till 1.3690 (10pips short but thats still gooood). Your second target was 1.3800 for present pull back rally. I was defintely on the sidelines then I sidelines now too. Just still can make myself go against the trend. I think I will wait for clear picture as I am not a compulsive trader. What do you think?
Thanks for the compliment George. If you are at all unsure then stay on the sidelines is my advice. That little bit of uncertainty means that you are not totally committed to the trade so I would wait until you’re really sure, then commit 100%.
Hi Sean good advice again, i have a real problem with going against the trend since i got caught a while ago do you think i should stick with my fears i seem to miss a lot of trades now?
Hi Steve, confidence is everything I think. I’m not sure how you can build it up again but perhaps reducing the trade size significantly until you’re comfortable with what you’re doing and then build from there. Once your confidence is high, you will be comfortable playing either with or counter trend, of that I’m sure.
Thanks Mate!