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

[Abo Abdullah]

EUR/USD - Stops start growing larger under1.2940 , Probability not confirmed yet to hit based on Volume and contract size Offers, and bids at 1.2975, 1.2950 and larger 1.2920/30
Note
leveraged accounts and Real money noted selling at 1.3000 in good size.

[Abo Abdullah]

EU Draghi has reasons to be a DOVE

A lot has changed since June to give ECB chief Draghi reasons to strike a dovish note. After failing to do so last month, EUR/USD took off and hit a high of 1.3306 vs a low of 1.3075 that day. Many traders see a very similar scenario today and fear a similar move. But specs were heavily short euros into June meet (10.5 bln euros), and now the overall position is flat to slightly short. You cannot squeeze a market that is not short. Also key, the euro's trade-weighted value has been rising all year and is near its strongest levels in 2 years. On that basis, the ECB chief has plenty of reason to try and talk it down. Peripheral yields are also higher. Portugal 10-yr yields soared above 8% Tues vs 6% at the start of June. Spain and Italy about 20-40 bps up from June 6th opening levels and rose near 5% last week. The ECB chief has good cause to coo much more loudly today.

Copyright (c) 2013 Thomson Reuters - IFRMarkets

[Abo Abdullah]

Repetition

EUR/USD –leveraged accounts and Real money noted selling at 1.3000 in good size
From London

[Abo Abdullah]

You can watch the ECB press conference, starting in 30 minutes, via the following link: https://www.ecb.int/press/tvservices...130704.en.html

[Abo Abdullah]

Repetition

Talk of a few hedge funds looking to sell EUR/JPY today

[Abo Abdullah]

Valid Till : 15.00 GMT

EUR/USD – Stops under 1.2940 noted growing larger – good
Probability to hit

[Abo Abdullah]

EUR/USD – Start offers building at 1.2910/00, with sell stops underneath 1.2880

[Abo Abdullah]

EUR/USD - Cleared stops under 1.2940

[Abo Abdullah]

EUR/USD - Large stops under 1.2940 getting cleared in the session

[Abo Abdullah]

Next level Stops under 1.2880 noted growing larger

[Abo Abdullah]

EUR/USD – Start offers building in good size at 1.2850, with sell stops underneath 1.2830

[Abo Abdullah]

EUR/USD - stops under 1.2980 not cleared yet ,Probability not confirmed yet to hit based on Volume and contract size Offers

[Abo Abdullah]

EU Forward guidence is key to BREAK 1.2900

ECB took an unprecedented step & was unanimous on forward guidance-Draghi
EUR/USD drops through purported Asian bids ahead of 1.2900
Stops below hit from tech funds now adding to shorts
Expect significant resistance to move down to 1.2870-90 (daily cloud)
Barriers will be mulled below at both 1.2850 and 1.2800
Both levels traded in May significantly reducing likelihood of key defence
Copyright (c) 2013 Thomson Reuters - IFRMarkets

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

EU Citi says..

Sees surge in EU selling since Draghi started his press conference, with an excessive 57% skew in favor of selling. The bank says leveraged names have been particularly active as EUR/USD fell over a big figure to trade below 1.29. (gary.stride dowjones com)