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

[Abo Abdullah]

Morgan Stanley's Current Open Tactical FX Trades

The following is a list of Morgan Stanley's current open tactical FX trades (spot) as of July 10, 2013.

Long EUR/CHF from 1.2310 with a revised stop at 1.2210 and a target at 1.3000.

Long USD/CHF from 0.9347 with a stop at 0.9270 and a target at 1.0100.

Long USD/CAD from 1.0200 with a revised stop at 1.0410 and a target at 1.0800.

Short GBP/NZD entered at WMR on July 04 with a stop at 2.008 and a target at 1.860.

Short USD/JPY from 100.00 with a stop at 101.70 and a target at 95.00.

Short EUR/JPY from 130.00 with a stop at 131.30 and a target at 124.00.

Short GBP/USD from 1.5500 with a revised stop at 1.5360 and a target at 1.4800.

*Closed trade this week

Short EUR/USD from 1.3310 (hit target at 1.2800)

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

Ben Bernanke speech live here

http://www.c-span.org

[Abo Abdullah]

Levels ahead: EUR/USD - 1.3050 strong offers but large stops above; GBP/USD 1.5000 with stops in good size above; AUD/USD - .9230 offers with stops through .9250; USD/JPY - Bids at 99.20, but stops clustered under those bids all the way through 99.00

[Abo Abdullah]

GBP/USD - Large stops above 1.5000 getting cleared late in the session

[Abo Abdullah]

Bernanke: Link to text of speech

Chairman Ben S. Bernanke

[Abo Abdullah]

Bank of America Merrill Lynch - JPY Goes Bid Vs USD & EUR: levels, Targets, & Strategies

USD/JPY has broken 3wk trendline support (now 101.28) indicating a near term top and turn lower, notices Bank of America Merrill Lynch.

"Stay bearish against 100.83/101.28 for further weakness to 98.86/98.57 area support. Bigger picture, while we continue to look for a greater decline to the 91 area, at this stage we do not have enough evidence to say that the current sell off is the start of that move," BofA projects.

Given that, how investors should position to leverage this potential JPY strength.

"For those looking to play for greater JPY strength, we recommend focusing on EUR/JPY," BofA advises.

"It continues to carve out a 3m Head and Shoulders Top, thru 124.95/125.00 confirms the pattern, giving a measured move to 116.00. Interim support is seen at 128.34. A sustained break below clears the way for the 124.95/125.00 neckline and below," BofA clarifies.

[Abo Abdullah]

EUR/USD – leveraged accounts and Real money noted Start offers building at 1.3040/50, with stops above 1.3070

[Abo Abdullah]

EU Big Ben fuels REBOUND

Shorts gently squeezed in Europe - soft U.S. inventories fueled
FOMC taper neutral, then late dovish Bernanke [ID:nL1N0FG22G]
EUR opened +1.45% - 50pts higher in early Asia on Bernanke
20 & 200 dma @ 1.3075 are initilal resistance
1.2972 NY close & pre Bernanke 1.12880/85 support
Copyright (c) 2013 Thomson Reuters - IFRMarkets

[Abo Abdullah]

Repetition

EUR/USD – leveraged accounts and Real money noted Start offers building at 1.3040/50, with stops above 1.3070

[Abo Abdullah]

EUR/USD – More offers at 1.3040/50 in good size getting triggered

[Abo Abdullah]

EUR/USD - Large stops above 1.3070 getting cleared late in the session – Level2

[Abo Abdullah]

Asia Market Report

EUR/USD
•Decent offers at the 1.3200 handle with buy stops above that level
•Bids rushing in from dip buyers; good demand at 1.3100 and 1.3050
•Sell stops mainly scattered about, but noted cluster under 1.2750

USD/JPY
•Good offers from profit takers and rally-sellers at 99.00, light stops lined up above 100.00
•Bids very strong ahead of the 98.00 barrier
•Sell stops under the barrier in good size as well

AUD/USD
•Offers capped the rally at .9300, light stops above
•Bids at .9200 and ahead of .9100
•Sell stops below .9070

KEY NEWS AHEAD
•Japanese Core Machinery Orders (MoM expected 1.3%, YoY expected 2.5%) - 23:50 GMT
•Australian Employment Change (-2.5K forecast) and Unemployment Rate (5.6% forecast) - 1:30 GMT
•Japanese Interest Rate Decision consensus for unchanged at .10% - Tentative

It's a little crazy out there, be careful!

[Abo Abdullah]

EU Rally STEAMROLLS Bears

Price was extended at support from April 4 low by 1.275
Huge USD longs left it vulnerable to profit taking
Rally has shot price back above 50 / 200 day MAs - now support
Price retracing from 1.32 resistance area from April / May highs
Buy dip to MAs circa 1.3055/75 - rally expected to continue above 1.3415

Copyright (c) 2013 Thomson Reuters - IFRMarkets

[Abo Abdullah]

EUR/USD