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Browse > Home / All, Americas, Mkt Talk, Regions / Battle for 1.4500 is joined

Battle for 1.4500 is joined

By   || December 16, 2009 at 19:28 GMT
|| 20 comments || Add comment

The 1.4500 exotic option trigger is under threat unexpectedly as the FOMC gave the market what it expected. Heavy selling by a big German bank has surprised the market and sent intraday longs scrambling for cover while incenting options-players to try and knock-out the barriers. We’ve reached 1.4508 so far.

USD/JPY has traded up close to 90.00, stalling at 89.98. Offers are seen through 90.10 above which stops are eyed. 90.70 is further resistance.

Traders report large offers at 90.00 with almost $250 mln to go.

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Category: All, Americas, Mkt Talk, Regions
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20 Responses to “Battle for 1.4500 is joined”

  1. Killer-B on December 16th, 2009 19:34 GMT

    Excuse my ignorance Jamie – but are you saying if 90.10 gets taken out, we’ll see a surge to 90.70 area?

  2. Tajul Akbar Bin Ismail on December 16th, 2009 19:35 GMT

    EURUSD session Low @ 1.4507

  3. Trading Nymph on December 16th, 2009 19:36 GMT

    They just need to touch it to void it? Boy this is exciting….Jamie or ANYONE WHICH exact day does that China Option finish?

  4. Stephen on December 16th, 2009 19:41 GMT

    looks like the bulls won…… for now

  5. Tajul Akbar Bin Ismail on December 16th, 2009 19:41 GMT

    EURUSD yesterday’s Low @ 1.4503 holds for now ;-)

  6. Bob on December 16th, 2009 19:44 GMT

    Mortal combat @1.45 eur/usd

  7. Jamie Coleman on December 16th, 2009 19:46 GMT

    Looks that way, if it holds above that level.

  8. Jamie Coleman on December 16th, 2009 19:46 GMT

    end of the year..Dec 31

  9. Bob on December 16th, 2009 19:55 GMT

    No, end of the world…21.12.2012, Jamie…

  10. Trading Nymph on December 16th, 2009 19:58 GMT

    Thank you Jamie….I didn’t know if everyone would be working on the 31st…..Well, actually China New Year not until Feb …thank you I have been wondering about that.

  11. cheg on December 16th, 2009 20:00 GMT

    Very nice defense so far…These guys surely know how to play ! ;) But there is no defense game on the cable, so it will be interesting to see how low it can trade pre retail sales figures in the uk tomorrow.

  12. Killer-B on December 16th, 2009 20:00 GMT

    Thanks… Seems things have settled for now… Asia open should be interesting – Cheers

  13. cheg on December 16th, 2009 20:10 GMT

    taking into account that at least 3-4 yards were sold into the “goldman bid”, that leaves the market with a bit of ammo to “defend” 1.4500 ??

  14. cheg on December 16th, 2009 20:14 GMT

    If you want to buy USD, sell CABLE ! ;) no need to start a mud fight with china..(yes i m still long eur/gbp…and suffering)

  15. Gabriel on December 16th, 2009 20:16 GMT

    I’ll sell a 1.624 break of cable Cheg ;)

  16. Jamie Coleman on December 16th, 2009 20:17 GMT

    I guess that means the Fed won’t hike in February either;)

  17. Emilio on December 16th, 2009 20:23 GMT

    With a few trillion dollars in their stash have these chinese ever lost a battle defending a barrier?

  18. cheg on December 16th, 2009 20:30 GMT

    it seems they have. But every barrier is now attributed to china..so who knows ? not me..

  19. Stephen on December 16th, 2009 20:42 GMT

    That german sale was odd indeed – certainly changed the game a bit. But the 4500 defense has been a thing of beauty to watch

  20. Jamie Coleman on December 16th, 2009 20:42 GMT

    Emilio..they’ve lost many, many battles,,,1.50, and 1.5100 in recent weeks, just to name two…1.4600 more recently…

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