Reports from the marketplace are that the ACB’s are still intervening quite heavily, buying USD/Asia to slow down the appreciation of their local currencies. They are then switching out of USD and into EUR, GBP, JPY, AUD and CAD.
11 Responses to “Asian central banks still buying EUR/USD, GBP/USD on dips”
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
ADVISORY WARNING: FOREXLIVE provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.
AUTOREFRESH 
Gold is edging up, and isn’t there a bit of news too come from our Asian friends
Hi Sean,
Eventually we see some real buying on european currencies as well.
Time for a switch to long on EURAUD and GBPAUD?
Yesterday I placed a long on the first at 1,4825, then I canceled it, was not brave enough….
G’Day Sean. It’s been for a couple of days (and even weeks) that I haven’t read anything ’bout Franc from you…I’d really appreciate if you provide us with your insight on Swissy and where it may go…been long USD/CHF from 1.02s and I still think it has room for upside (maybe to 1.15 or so…)
AUD/USD m15 line matching gold a bit. I like 9170 as stated earlier. Sean is right play edges.
been trading the eur/usd on the long end all us session long, should break 1.37 and touch 1.38 this session…easy $$$ on long eur/usd on asian and european sessions and follow thru to clear stops above in us session…thoughts???
US trade balance may have shrunk big tiem due to strong usd, which means US exports will be way worse and should be catalyst to bring usd back down, just a thought
G’day Francesco. Picking bottoms of fast falling markets is a dangerous occupation but I think it might be worth the risk/reward. I’m hoping cable stays above 14860 to begin with. When the bounce comes, it will be hard and fast. GBP/AUD has already fallen 100 big figures, surely there must soon be a bottom in sight??
G’day Iman, it looks like you got in at exactly the right level. I also bought a very small position there but sold out already. I’m thinking that it goes down a bit first, maybe to 1.0600 first and then possibly even towards 10425, where I would definitely look to reinstate my long position. Longer term I feel pretty sure that we go back to the 115 level you mention but that could be 6 months away.
9120 aud/usd holding. AUD is going to bounce! Don’t know where? 9170? Yep short bump down in gold , and up we go.
‘Morning! (or whatever). This is getting like the Groundhog day movie for me with the Euro. Waking up everyday to see that its not going anywhere. The correction has now lasted just a tiny bit more than the one 2 months ago but feels much longer. Good news is that its getting closed to a critical moving average and that stocks are also at critical levels too.
Hi Sean,
you are right about bottom picking, it’s a dangerous task and no good risk/reward ratio.
Instead I would focus on pairs that have probably discounted all the possible bad news like GBPUSD and EURUSD.
If so many bad news came out for european currencies, why this can’t happen for the USD?…..