EUR/USD lower

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I’m not seeing anything of note crossing the wires re this sharp move lower in the Euro (and GBP). Obviously its much less liquid today than normal with Japan out (and China).

 

Added: OK – chat is stops below 1.3145 were targeted. In the bigger picture there is unwinding of EUR cross trades continuing from funds.

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.

2013-01-03T02:59:12+0000

All|Asia Pacific

Eamonn Sheridan

13 Comments

  1. Hi Eamonn,

    Does “unwinding of EUR cross trades continuing from funds” mean lower prices to come eur/usd? Sorry if this is a dumb question, I’m kind of new.

  2. Hi Matt – no probs, all questions are valid. If you look at a chart the EUR/USD is probing through a support area ( 1.3150 and thereabouts) so there could well be some further selling to come. I’ll post up a chart and hopefully we can get some more ideas/views/discussion going.

  3. Hi Eamonn, I’m wondering whether you know the reason for the unwinding of EUR cross trades from funds? Does this imply a bearish bias for EUR crosses? Thanks.

  4. Gyrating markets without any seemingly news or technical reasons are the best markets to trade . If you have good gut feel , don’t have any strong perceived biases and can respect & accept Price Action you’ll get onto some excellent trades whilst most of the punters are are screaming , ” Why ? Why ? Why ? “

  5. I might have to print this out, frame it and stick it on the wall in front of me – good advice tk u Balmain Boy.

  6. German employment is due shortly. if this is less than expected can you see further falls in eur/usd?

  7. apologies employment change

  8. apologies change

  9. Gettin sick and tired of these moves,morning Gerry ,Pete all the best for 2013

  10. False break in the making?

  11. Morning Danny and Happy New Year :)

  12. Jane Foley – Rabo MT target of 1.3500

  13. هلا

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