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EUR/USD going nowhere fast. Anyone would think it was Monday

By   || June 21, 2010 at 08:35 GMT
|| 11 comments || Add comment

EUR/USD sits at 1.2428, to the exact pip where it was when I arrived about 4 1/2 hours ago.

Hearing Russia and Middle Eastern sovereign buying in recent trade. Funnily enough heard Russian names selling into the early rally.  As I’ve mentioned before Russia known to be aggressive jobber in EUR/USD.

UPDATE:  Medium term fund noted seller EUR/USD in recent trade. We’re little lower at 1.2415.

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11 Responses to “EUR/USD going nowhere fast. Anyone would think it was Monday”

  1. fms on June 21st, 2010 08:46 GMT

    Morning Gerry, how would that order book look like today?

    Any take on this pseudo-rally extension on eurusd would be tasty breakfast :D

  2. Gerry Davies on June 21st, 2010 08:59 GMT

    Morning fms. it would look somewhat limited to be honest, which is not unusual for a Monday. Obviously 1.2500 barrier interest, talk of stops through 1.2520.

  3. fms on June 21st, 2010 09:02 GMT

    Thanks – nothing to the downside then :(

  4. Gerry Davies on June 21st, 2010 09:16 GMT

    absolutely correct.

  5. marzuki on June 21st, 2010 09:21 GMT

    eu will down to1.2165 this week

  6. Gerry Davies on June 21st, 2010 09:24 GMT

    Thks for heads up Marzuki. Why’s that then? Mr Coleman has a new rule; we wants reasoning behind declarations of market directon.

  7. Blackday on June 21st, 2010 09:25 GMT

    *snigger*

  8. N on June 21st, 2010 09:28 GMT

    Is that Mr Colemans 2nd rule no sniggering :)

  9. Blackday on June 21st, 2010 09:28 GMT

    Oops!

  10. Blackday on June 21st, 2010 09:34 GMT

    EURUSD daily chart:- http://www.pict.com/view/3697249/0/eurusddaily

    Bulls: HH & HL, April’s descending trendline resistance broken along with close above same; now support.

    Bears: Monster downtrend in play; vicious move from 1.50~ seeing some retracement from 4 yr low.

  11. Gerry Davies on June 21st, 2010 09:36 GMT

    I think that’s rule No 5, if Iremember rightly ;)

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