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EUR/USD testing session lows after mixed housing data
By Jamie Coleman || February 22, 2012 at 15:07 GMT
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Not sure the data has much to do with it but EUR/USD is tested the bottom of the overnight range at 1.3211 shortly after the US data. We’ve been as low as 1.3212.
Asian central bank dip buying has been rumored below 1.3220 for much of the session.
Bids are seen staggered all the way down to the 1.3180 area, below which stops start to kick in. We trade now at 1.3220.
RE:Asian central bank dip buying has been rumored below 1.3220 for much of the session… Jamie, we’re a little late in the Asian day at this point. What happens after they close for the night, who’s next in line to hold the EUR/USD up above 3200.
They never close…money never sleeps
Lately… neither do I. That weekly candle looks like a 1 hour.
Jamie .. you stole that line from a film LOL
Is there any option expiry at 1500 gmt / 1000 ny – that togethr with the data might account for the volatility.
[ in memory of Rudolf Heinrich Hertz, all central banks worldwide agree on trading eur usd pair in tight trading range with 0.00027 hertz
It’s definitely a reliable rumor. The degree of correlation has varied during the day but pulling my EURUSD and EURJPY charts down to 1 min to better detect a pattern I’ve noticed a definite link in the up and down movement of both even in the type of candle occurring at the same time.
Kudos again on Dow Jones. You show em how its done! Don’t forget us poor masses when forexlive becomes an acquisition target, you get an offer you can’t refuse and retire to the Hamptons, French Riviera or wherever