Forex News | Currency News by Forexlive

From the 44 I jotted down first thing.

Dutch 10 year bond yield currently at record low 1.814%.

EUR/USD has continued it’s climb. Been as high as 1.2603,  presently at 1.2595 as it runs into those sell orders mentioned earlier.

I wish we could just fast forward to 1.2650 (ala poll) so I could show you all just how clued-up I am     But that’s unlikely to happen

I’m game.  It’s been a tough week, why don’t we pack up and head outside and start the weekend early.  Weather here in sunny Suffolk is truly glorious, shame to waste it.

Guess I should say something market related……

EUR/USD sits at 1.2538, where it closed out in North America Thursday.

Well-documented barrier option interest down at 1.2500 continues to be stoutly defended.

Sell stops seen through 1.2500 and more through 1.2480, before more barrier option interest at 1.2450.

Topside,  sell orders clustered 1.2600/20, buy stops seen through 1.2625.

Summertime and the livin is easy, fish are jumpin and the cotton is high……

I’d ignore all Friday afternoon rumours which usually tend to be utter rubbish.

Facts are that a UK clearer along with some of the bigger hedge funds have bought a chunk in the last hour of trade. They might be exiting remaining shorts, after the stop-loss run last night or they might know something we don’t! What I will say is that its unusual for big players to trade EUR/CHF in this timezone as the liquidity is quite poor compared with European trade.

• EUR/USD: Option protection ahead of a barrier at 1.2500, further barrier at 1.2450; Sell orders heavy 1.2600/15; Heavy stop-loss buy orders above 1.2625 and 1.2655
• EUR/AUD: Stop-loss sell orders below 1.2800, 1.2770 and 1.2750
• USD/JPY: Solid bids 79.00/10 and solid corporate offers 80.10/20
• Cable: Sovereign bids reported 1.5630 through 1.5600
• AUD/USD: Trailing stop-loss buy orders above .9810; sell orders .9835/40; solid bids expected .9660/75

On the plus side for the embattled EUR, there are the ubiquitous barriers to provide occasional breaks on the way down. Not sure on size but bigger barriers are reported at 1.2450.

EUR/AUD is currently sitting on a very solid trendline support, coming in around 1.2820 according to my line drawing. Little surprise then to hear that there are some big stop-loss sell orders lined up below 1.2800, 1.2770 and 1.2750.

Does that look much like a fence?

EUR/USD up at 1.2550 from session low 1.25155 having run into robust defence of 1.2500 barrier interest.

Sell stops reported through 1.2500 and more through 1.2480.

The Guru tells me that he has just gone long NZD/USD with a very tight stop (I’m guessing 10/15 pips). He is a professional trader managing third-party funds and trades exclusively short-term off technical signals and flow information.

No need to rush into profit-taking with the USD bulls making some very steady gains, but it’s never any harm to book some interim profits on the way. Dealers report some modest demand for NZD/USD this morning and that is washing over into the AUD/USD and EUR/USD, which are edging higher alongside.

There is some modest resistance nearby in the NZD/USD at .7525 and initial support is at the overnight lows near .7460.

• EUR/USD: 1.2625 previous lows now become resistance. If bulls are to have any chance of arresting the slide then they must retake this level.
• USD/JPY: 79.10/80.10 looks like the holding range; with USD bulls buying dips and EUR/JPY, AUD/JPY bears selling rallies
• Cable: Major chart support at 1.5600
• AUD/JPY: Chart support at 76.90 was tested overnight and held first up

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