EUR: Heavy long liquidation overnight among short-term players

Author: Sean Lee | Category: Forex Orders

Yes I know I’m stating the perfectly bleedin’ obvious but I’ve just read through some interbank reports on overnight activity and it seems that the move lower in the EUR/USD and the EUR crosses was mainly driven by shortish-term players exiting their positions.

Of interest also were the reports that China was a regular buyer of EUR/USD on the way down last night; no particular levels, just some steady accumulation.

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