EURUSD orders 26 July

Currently 1.3280

Sellers 1.3295 1.3300 1.3320 1.3340 1.3350 1.3375 1.3400

Buyers 1.3265 1.3250 1.3235 1.3215 1.3200 1.3185 1.3165 1.3150

eurusd orders 26 july

Author: Mike Paterson

Mike Paterson has more than 30 years of experience trading FX including as a senior trader with UBS and Credit Suisse. He was also head of FX at the State Bank of Victoria. With sizeable daily trading volumes Mike carved out a name in the market combining professional integrity with a cynical grasp of seizing market opportunity. Since leaving the City, Mike has been working as an independent consultant and trading along with presenting seminars and writing for a number of publications. Mike lives in Kent and supports Southend United FC.

32 Comments

  1. Where do you guys get your information from? It seems to me like your making this up.

  2. Hi Mike.. Both Cable and EUR/USD are showing strength. Is there a case for shorts in both these???

  3. why does it seem like that to you Chris? Do you not see these levels making any impact? we get these bank orders from a variety of market sources and are 100% genuine. many traders here will testify to their effectiveness in their trading strategy.. I look forward to your reply.

  4. Hi Sanjay. being naturally a contrarian trader then I’d say yes but not convinced that these levels are the right entry point.

  5. Yes, usually when a the euro or any currency pair for that matter breaks through a new price level, there will be a bounce from profit taking at these key/obvious levels you have mentioned. I don’t believe you have viable sources telling you where sell orders are placed. All you have done is mentioned 7 key levels or profit taking and then said that this is backed up from a viable source.

  6. Mike – for sure these are a useful tool. Yesterday you had large bids at 1.3170/60 which pretty much marked the low of the day. Offers at 1.3280 put a halt to the rally last night. Similar reactions were seen at some of the intermediate levels. Sure not every level will hold every day but they definitely are useful tool to have in your box.

  7. Hi Mike what does the bold ones mean? As for their effectiveness, been watching them for few months now and I can testify of them because i use them in my trading strategies. Thank you again for this daily information we need every edge we can get to survive this war.

  8. Thanks Mike.. !! So a bit wait and watch…!!

  9. Chris, if you do proper technical analysis you will see the correlation with the orders. They are where you would expect them to be. The Forelive team are giving us better info on how strong those orders are, to help us with whatever strategy we are using.
    Take them, or leave them, but you shouldn’t rubbish something you are not understanding, or using, properly.

  10. Then you accuse me of being a liar and posting useless info after being in the market for 30 years. I will let the room decide who is right. Do you not know that banks and institutions have orders to execute for clients and/or themselves?

  11. Thanks for the feedback James. I’m glad the info helped

  12. The bold ones denote larger size 3clipz. I’m glad they have proved useful to you

  13. I think so Sanjay yes. no point dealing for the sake of it here unless you have a strong conviction.

  14. Thanks for the feedback Steve D

  15. I’m just accusing you of giving the impression to the average Joe retail trade that you have deep inside info for them when you really don’t. Large market makers wouldn’t give you inside info on where their clients have orders.

  16. I have seen many times the importance of the levels posted by the Forex Live team. And what’s more, they revisit the fact in their subsequent posts…. These are very helpful in making up our minds and strategy accordingly. I think that before questioning their credibility you should get your facts straight. No offense Chris, but the levels posted by Forex Live team have been very helpful…

  17. I’m a former interbank trader. you don’t think I can access this info? that I don’t speak to former colleagues in the city? Info flow has always been shared in the interbank market but invariably does not include names or specific amounts for professional reasons. If you think otherwise then your accusations as to my integrity become ever more un-informed.

  18. Chris, do you think every bank order is completely invisible? Do you think wholesale orders get filled by magic? They have to show on EBS or Reuters at some point, at which point they become visible to potential counter-parties. The information is useful to “Joe Retail Trader” because Joe can’t afford a banking licence and all the credit relationships required to participate in the interbank market (or interbank access through a prime arangement), nor can we afford Reuters and EBS.

  19. Wow, what has just happened? Well Eurusd playing a game and many lost it? I did short the eurusd yesterday and managed to get around 30 pips but did not get the long trade as I was away. Well market does move in a very unexpected way but if we use a protected SL we will be fine. Just come to say hi to Mike and all of you. I am not trading today as I will be flying back again. But will love to see what you are guys think and doing as a trader. To be honest, I see the level Mike put on this website but has not really implement it myself so no comment from me as now. I think Mike is good although I am also new here. Good luck on your trading guys and be careful Friday trading, also after big move and a little low volatility.

  20. well let suppose the Mike is making it up! Now My question to you chris is does this matter they have market orders information or just making it up while they are doing well and helping newbies and even expedience traders? What is important to you the correct information or great result ? To me off course the result that I’m counting profit with their help. My story here is not much I’m following the forexlive.com from previous 2.5 to 3 years and i never participate in comments and mike know my first comment on forexlive .com was one week ago. I was silent reader or you may call it silent follower perhaps. I was judging their activities and placing them into my MT4. now I’m successful and earning enough money day by day. It don’t means that i’m following them blindly no every successful trade follow his own decision as i did but their activities helped my a lot to made my decision.

    From two days gbp/usd was struggling around 1.5400 and right their mike informed me that level contain pretty much sell orders so you can see the what job 1.5400 did. its just a one example. you can also see the post related that move http://www.forexlive.com/blog/2013/07/25/uk-q2-gdp-how-good-is-good/

    Sorry chris if any or my word touch you harsh. I hope you got my point ..

  21. Hi Wenpo. thanks for your input and we wish you a safe journey back.

  22. thanks for your feedback Vicky. And I should add of course again that this info is not made up!

  23. I already knew that info is not made up. I just used the word “suppose” for understanding because few of here do not believe that you have not market information Mike. I’m agree with your market orders information.

  24. cool. just wanted/needed to clarify Vicky

  25. Myself and many others here can vouch for the integrity of Mike, Ryan, Adam and Eamonn. They don’t “make up” anything.

  26. thanks for your support Kelly

  27. what mean “3clipz” ?

    thanks

  28. hey Chris,
    u can easily skip the posts with order level info IF u believe they are unreliable!!!
    believe what u will but let’s not start accusing the guys @ FXLive with baselass insinuations (not facts) just cuz u think that must be so …

    Point to note: I always have an eye on this site whenever I’m trading just like hundreds of other users and therefore I think I know quite well that the whole team here provides a VERY useful service AND to boot this is for freakin free so take it or leave it.
    Quite simple really!!!

  29. I think Chris Pierce lost a lot of money this month ;)

  30. Like Vicky I have been lurking here for years and rarely post…but I had to come out of the shadows and say something to Chris P:

    Chris, everyone is being way too nice to you. I’ve seen some crybaby noobs posting on here from time to time complaining that they traded some level where there were orders piled up but they lost anyway etc etc…but this takes the cake. So Mike, Eamonn, Adam and Ryan just make up stuff to look cool to “average Joe retail traders”?? What about before their time? I guess Jamie Coleman and Sean Lee and Gerry Davies and Peter Jackson all just “made up stuff” to look cool too? They had decades of experience in the markets as well, but they need to make up bogus information just to impress idiot wannabe traders on the internet?? You probably haven’t been around long enough to know who I’m talking about, but it doesn’t matter. Just making this accusation of Mike and the gang is proof enough how clueless you are. Rarely does anyone shame themselves this badly by revealing just how complete their lack of knowledge and understanding of trading is…but you’ve done it.

    Congrats on taking the “Dumbass Crybaby Noob Wannabe Trader Post” to an entirely new level. Go play at an online casino or something and let the real traders worry about order levels.

    Sorry for the rant….returning to the back corner now…

  31. thanks for your support Jack. we don’t know that CP is a noobie per se. and he may well not be. just misguided/underinformed

  32. the name of the person I was replying to Mike!

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