I’m hearing of very strong bids at 1.3900-20 in the EUR/USD rumoured to be from a big Asian sovereign name (guess who!) and stops now above 1.4015/25 and again above the NY post-NFP high at 1.4070.
6 Responses to “Strong buying interest in EUR/USD- both sides”
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AUTOREFRESH 
Hi, I’m relatively new to forex, may i ask what do you mean by strong bids ? Thanks!
Of the order of 250 million on the bid every 5 pips. So total over 1bln.
hi i have a long position in sterling at 1.6463. i am still unable to decide what should i do. please suggest….
Hi Bunty, yes tricky one given your level. I can only repeat what I told Millward which is pretty much my current thinking. I think we’re in a 1.62/1.66 range. Think looks a buy 1.62/1.63, sell at 1.65/1.66. Inbetween 1.63/1.65 who knows. I think now if we break out 1.62 or 1.66 we’ll likely see a v.decent move. with what i know right now i wouldn’t like to hazard a guess which way the move will come. the market certainly isn’t sure, that’s why we’re not moving far from 1.6400. Your strategy dep[ends alot on your pain theshold.
By this i mean you could add on any move to 1.62/1.63 area to improve your average, with stops fairly close below 1.6200.
THANKS A LOT GERRY…..YOUR SUGGESTIONS WERE VALUABLE…. I AGAIN TOOK A LONG IN 1.6363….AND RIGHT NOW AS U SAID I AM COUNTING ON MY PAIN THRESHOLD…..