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Central banks willing to put up a fight still in EUR/USD

By   || January 27, 2010 at 14:20 GMT
|| 3 comments || Add comment

EUR/USD eased as low as 1.4032 on the latest slide but ran into bids from a North Asian central bank. Traders report a UK clearing bank has been the heaviest seller on the latest push to the downside.

It looks like it will be a battle as long as the 1.4000 level remains intact. Traders continue to note talk of large stops in the 1.3980 area.

Also in the mix is a large 1.4000 vanilla expiry this coming Friday, so we should continue to see EUR/USD buying on dips (below 1.4000) and selling on rallies until that option expires.

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3 Responses to “Central banks willing to put up a fight still in EUR/USD”

  1. Adje on January 27th, 2010 14:30 GMT

    k thnx for the info. Really appreciated

  2. Peter K on January 27th, 2010 14:36 GMT

    Just across Reuters: “UKRAINE PRESIDENT CANDIDATE YANUKOVICH SAYS WAGE RISES, PASSED BY PARLIAMENT AND CENSURED BY THE IMF, MUST BE IMPLEMENTED”. Can’t wait until the Ukraine becomes a Euro entry candidate;)))))

  3. Tajul Akbar Bin Ismail on January 27th, 2010 14:42 GMT

    EURUSD bounced back, near resistance @ 1.4061

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