== $ == Banks Orders Book == $ ==

[Abo Abdullah]

Banks demand noted in USD/JPY seen from 97.00 through 96.90 in good size

[Abo Abdullah]

Stops in USD/JPY under 96.80 very large, but good buying interest noted just above that

[Abo Abdullah]

US 10yr yields still dropping; USD suffering now and stops under .9150 in USD/CHF being noted, but bids aggregating ahead of that mid figure

[Abo Abdullah]

EUR/USD – If ACB offers into 1.3410 don’t hold, stops triggering above that area could give way to further stops being taken out into 1.3430

Given the USD negative pressure, stops in USD/CAD under 1.0495 and through 1.0470 are left quite vulnerable

[Abo Abdullah]

Stops in AUD/USD above .8990 left very open to being cleared as USD selling doesn’t let off much

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

Rumors circulating that RBA will hold rates at next meeting

Month-end EUR/GBP demand continues with momentum funds now joining into the buying, putting stops above .8620 in focus

So far, no decision to act in Syria has been taken by Obama

[Abo Abdullah]

Israel says they will respond with force to any attack from Syria

[Abo Abdullah]

USD/JPY now being sold by US leveraged funds with stops under 96.80 in focus. Broad demand into 97.00 and major technical level at 96.90 may provide support

[Abo Abdullah]

Latest Bullish & Bearish FX Signals – Commerzbank

The following tables and charts provide the latest bullish and bearish trending signals for FX, and a selection of other financial instruments as provided by the technical strategy team at Commrezbank.

[Abo Abdullah]

Repetition

EUR/USD – If ACB offers into 1.3410 don’t hold, stops triggering above that area could give way to further stops being taken out into 1.3430.

[Abo Abdullah]

Leveraged selling of USD continues, notably USD/JPY. Stops under 96.80 still in focus

[Abo Abdullah]

UBS - USD/JPY fortified by support at 97.00 region

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Beginning with the USD/JPY, “The potential is for further upside to break through resistance at 99.34, extending to 101.53. Support is at 96.91, indicating a bullish outlook.”

Regarding the GBP/USD, “Having advanced sharply, the pair is correcting and unwinding the sharp advance. There is scope for more weakness to test the strong support at 1.5373. Resistance is at 1.5718, suggesting a neutral outlook”

Finally, in terms of the USD/CHF, “As bearish conditions persist, there is scope for further weakness to test important support at 0.9130. A move below which would expose 0.9022. Resistance is at 0.9301 ahead of 0.9396”

[Abo Abdullah]

A break below .8930 in AUD/USD would not only trigger good-sized sell stops in that area, but also attract system funds to sell as well

[Abo Abdullah]

Bank of America Merrill Scales In USD/JPY Longs From 98 & 97.50 Risking 95.80

Bank of America Merrill Lynch scales in 2 long USD/JPY positions from 98.00 and 97.50 with a stop at 95.80, and a target at 105.80/106. BofA plans to add a 3rd position to these longs at 97.00

"Currency traders should use Treasury price strength as an opportunity to begin scaling into $/¥ longs. As we stated, for the past 3 months $/¥ has been confined to a well defined contracting range. Now that range is just about to complete AND NEAR TERM WEAKNESS MUST BE BOUGHT. We recommend scale in buying on a pullback towards 97.47/96.41 area support," BofA says as a rationale behind this call

"Specifically buy at 98.00, then 97.50, and 97.00 with a stop below the 95.80 Aug-08 pivot low. For those looking to be more conservative, the stop can be placed below Triangle support at 95.01. Upside targets are seen to 106.00/105.80, potentially 109.80. Alternatively, we will be forced to buy a closing break of 100.00 and then add thru 101.54," BofA adds.