ForexLive Asian market open: Stops taken out in EUR/USD above 1.2625

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As expected there was some heavy stop-loss buying in EUR/USD in the interbank market, which has traded to a high of 1.2671 and has now pulled back to the break-up level at 1.2625. AUD/USD has failed to break up through last week’s highs near parity and is trading at .9985, EUR/JPY is at 100.60 and EUR/GBP is .8150.

Good luck today.

2012-06-10T20:26:31+0000

All|Asia Pacific

AUD/USD|EUR/USD|JPY crosses|USD/JPY

Sean Lee

22 Comments

  1. 1.2671 the high??

  2. Hi Sean, Your secret follower here, any stratergy i have gone long on eur /usd at 1.2611 few min back ,what yr take what should my stop be at for a nice rally up, what positions r u planning to enter please do let us know

  3. Where can i find pre market prices for currencies? Does it exsists?

  4. hi sean,

    i said last weak that we all have time to jump in to the train( long euro/jpy).

    guys wake up, greece never leave the euro or eurozone.

    whoever win the election either tsipras or samaras the eu, merkel, etc they pay them a lots of money in order to keep greece in EU.

    I KNOW HOW GRREKS THINKS AND ACT BETTER THAN ANYONE AND YOU KNOW WHY?

    BECOUSE IM GREEK

  5. Hi Manish, I prefer to sell as long as its below 12670ish, as I see stroing technical resistance there. Plus I still don’t know where the EZ will magically get EUR100 billion?

  6. hi sean
    can i have your take on aussie today pls.
    thanks alot.

  7. Thanks just made a quick 20 pips, will be at the sidelines for now, please do update if u have any itchy trades

  8. There is no 100 billion or no legal means, yet, to distribute it (if it did exist).

    All we have is an agreement from a teleconference

  9. @Manish….Thats pretty brave m8, buying EURO after that gap straight off the bat! Your either don’t know what your doing (likely the case), or you know something we don’t (highly unlikely), or your just taking a small punt for the hell of it (possibility).
    Either way, brave man!

  10. Hey Janusz, I look at http://www.fxstreet.com/rates-charts/currency-rates/
    feed starts around 21gmt on sunday. but euro is at 1.2494 on their data so Im not sure its real pre market.

  11. Jeff,

    This is Forex market, anything can happen.

  12. morning sean
    hope you havea good w/e.
    for the aud where you think it’s ehading to today?
    have we seen the top already or is it going much higher form here.
    what is agood lvl to enter a possy in aud?
    tku.

  13. @ jeff gaps havent always closed this year but i agree brave

  14. Morning Sean! Great post in the weekend indeed :) Do you think this is it for the euro firework today or will we see another rip when equities come online?

  15. Hey Jeff mentioned that i have exited the position with 20pips

  16. Hi Don, need bit more info, esp on how Asia reacts to Spain and to Chinese data. I don’t think we will see any huge moves in next few hours so prefer to wait for now

  17. @ipodkaki …”This is Forex market, anything can happen.” …Your kidding… Jesus…I thought this was the stock market..fk me!

    @Ian….”@ jeff gaps havent always closed this year but i agree brave”…. I know m8, I was just passing comment that I thought he was brave buying straigh off the bat without any retracement first.

    @Ma…Nice, glad you took something.

  18. @JEFF – RE MANISH – I think you should of kept that trade, put the stop near to you opening position as it looks positive for now and you could gain another 30 pts at least. Let the profit run and don’t get out too soon, the more the position runs the more stops it hits and higher it runs to your advantage, good luck

  19. I actually think the AUD/USD is a better trade at present based on the China figs, Eur is still in balance,

  20. Possible…but my all my point was… that its not exactly a high probability or risk confidant way of trading…I mean come on…buy straight at market after a gap that size with out waiting for any sort of retracements first, or how the open market will respond to such a gap… I would like to see where that sort of strategy gets you over a period of 10 years. It’s just an opinion.

  21. @Jeff – you are totally right but there are plenty of instances where there is a gap up, pause, then move up on trend, short covering, etc etc, there is no set rule. Bear in mind that It wasn’t that long ago that the market thought USD was a dog, tell me where you would short EUR here, not me let it run to 127, 128, 129, or 130 until you are convinced that it’s worth going short.

  22. @Bob, I wouldn’t short or long EURO here as I do not trade Asia. As per my Friday analysis I posted and re-posted an hour ago here. I gave the 1.2660 as the target off the 1.2444 level Friday. I have said time and time before…. I do not trade random prices, and I do not pick tops/bottoms nor do I trade fundamentals. I trade the Euro/London/N.American sessions base on technicals. I wait for price to come to me, not the other way around, once the market in my opinion has shown its hand.
    I can however give you some lotto number to place if that helps?

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