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

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

EU Tech says get SHORT on rallies


Bias remains marginally on the down-side
Scope for a test of the 2013 1.2740 low posted on Apr 4
Daily momentum remains negative
Diverging 30-day bollingers points wide ranges
We are looking to get short on rallies ahead of 1.2916, Fri's high
Chart: http://link.reuters.com/caw49t

[Abo Abdullah]

AUD/USD - offers at 0.91 and 0.9120 with some buy stops in the mix; bids building at 0.9050 and ahead of the 0.90 barrier option

[Abo Abdullah]

EU Critical Trend Line Under Fire

EUR/USD Technical Analysis– Prices are testing support at a rising trend line set from mid-November 2012, a barrier reinforced by the 61.8% Fibonacci expansion at 1.2810. A break below this boundary initially exposes the 76.4% level at 1.2747. Near-term resistance is at 1.2861, the 50% Fib, with a break above that targeting the 38.2% expansion at 1.2912.

By Benjamin Spier - Currency Strategist

[Abo Abdullah]

US Market Report

EUR/USD
•Corporate accounts seen as buyers + some profit-taking from speculators
•Sovereign selling noted above 1.2850
•Bids at 1.2820 and ahead of the 1.28 barrier option; then 1.2745/50
•Sell stops at 1.2790 and larger at 1.2770
•Offers lined up at 1.2860-80 from sovereign accounts/leveraged names
•More selling interest noted at 1.2900 and 1.2920
•Buy stops accumulating above 1.29

GBP/USD
•Bids ahead of 1.4850 and 1.48 barrier options
•Sell stops building beneath both levels
•Offers seen at 1.4950, 1.4980 and heavy around 1.50
•Buy stops at 1.4960 and larger above 1.50 through 1.5020

USD/JPY
•Bids at 100.80, 100.50 and large at 100.00 (including Japanese importers/specs)
•Sell stops growing larger below 100.80, heavy at 99.80
•Offers at 101.50, 101.80 and ahead of the 102.00 barrier option
•Buy stops sizeable above 102.00

AUD/USD
•Bids building at 0.9050 and larger ahead of the 0.90 barrier option
•Sell stops at 0.9030 and sub-0.90
•Offers at 0.91, 0.9120 and large ahead of 0.92
•Buy stops above 0.9150

USD/CAD
•Bids seen at 1.0520, 1.05 and larger at 1.0470
•Sell stops at 1.0490 and 1.0440 in good size
•Offers 1.0580 and ahead of 1.06
•Buy stops above 1.06

KEY NEWS AHEAD:
•13:00 GMT (09:00 EST) - Draghi Speech in Bruxelles

[Abo Abdullah]

EUR/USD – leveraged accounts and Real money noted Start offers building at 1.2880/90, with stops above 1.2900

[Abo Abdullah]

USD/JPY - Light bids at 101.00, sell stops under 100.90. Offers from 101.30 through 101.50 with buy stops above the mid figure

EUR/USD - Offers at 1.2870 with light stops above; more offers ahead of 1.2900 with bigger stops above. Bids in front of 1.2800 in good size, more at 1.2750. Sell stops underneath the big figure

EUR/USD – 1.2880/90 Offers noted in good size

From European bank

[Abo Abdullah]

GBP/USD - US fund reported as buyer; also reported as selling EUR/GBP

[Abo Abdullah]

EUR/USD - More offers coming in at 1.2880; more stops also coming in at 1.2950

[Abo Abdullah]

EUR/USD - Stops above 1.2850 getting cleared in the session

[Abo Abdullah]

AUD/USD - Offers at .9110 through .9130 with stops above. More offers from technical funds at .9180. Bids at .9070 and .9040 with stops in good size below. Even larger stops under the strong bids ahead of the barrier option at .9000

[Abo Abdullah]

Short-term sentiment remains mixed with AUD and NZD showing the most strength, EUR getting bid on Draghi comments, and USD losing, but volumes are light. Overarching USD-positive sentiment remains.


Options Expiries for the NY Cut (10:00AM ET)

USD/JPY - 100.50, 101.00, 101.20, 101.50

EUR/JPY - 130.00

AUD/JPY - 92.00

CAD/JPY - 95.75

EUR/USD - 1.2830, 1.2900

AUD/USD - .9125, .9150

GBP/USD - 1.4900

USD/CAD - 1.0530

[Abo Abdullah]

EUR/USD - Very small stops above 1.2860 cleared as Draghi's comments helped see EUR bid across the board, but offers at 1.2880/90 still in good size with the larger stops above left intact.

[Abo Abdullah]

Corporate accounts and short-term model funds noted buyers of EUR/USD; USD longs across the board suffering through a small squeeze
Offers seen 1.2880-90 are believed to be larger, mix tech/corp/option sellers

[Abo Abdullah]

EURUSD - Weekly Forecast 08 Jul 2013

The EURUSD continued to maintain its bearish momentum last week,topped at 1.3077 and bottomed at 1.2805 levels, now pressure will be on the key support 1.2805, the EURUSD will have to hold below the 1.2805 levels on a weekly closing basis to push the market for further downside losses,If seen it will target the 1.2660 levels where a breach will turn focus on the 1.2500 levels, note that a daily close below 1.2805 is an early warning for 1.2660 levels.

On the upside resistance is at 1.2970 , 1.3030 , 1.3077 and 1.3145, so you may short after rejection from any of those levels with target towards 1.2700 levels,In all as long as 1.3150/1.3030 holds on a daily closing basis the pair will remain under pressure with risk towards 1.2700/650 levels.