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

[Abo Abdullah]

Reports of a large US fund selling EUR/USD, but stops sub-1.3000 still intact

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

EU techs Long exit adjusted

1.3200 target now below today's highs, a 69% retracement of June-July slide
April-June rise was also a 69% retrace of the Feb-April slide
1.2975 stop is below Wed's highs & 50% of this week's recovery range
Like that key weekly props look set to hold into week's end
Wkly ADX & Bolli spreads extremely low, bares monitoring

[Abo Abdullah]

UBS - S/T Outlooks For EUR/USD, USD/JPY, GBP/USD, & AUD/USD

The following are the latest technical outlook for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by UBS

EUR/USD: Neutral - The sharp advance tested the resistance at 1.3164. A closing break above this would be positive opening 1.3417. Support is at 1.2963.

USD/JPY: Bullish- The sharp sell-off seen recently is trading above the support at 97.66, which is expected to hold. Resistance is at 101.53 ahead of key resistance at 103.74.

GBP/USD: Bearish - The sharp advance tested the resistance at 1.5172. With the MACD below its zero line this is expected to hold on closing basis. Support is at 1.4999 ahead of 1.4814.

AUD/USD: Bearish- With the bear trend intact resistance at 0.9325 should hold on closing basis. Support is at 0.9159 ahead of 0.9037.

*NOTE: The trend for each currency pair as defined above is determined by UBS proprietary model and is independent of its discretionary interpretation of price action.
Source – UBS FX

[Abo Abdullah]

Macro name buying USD/JPY

[Abo Abdullah]

Greeks protest job cuts, unemployment hits new high

Copyright (c) 2013 Thomson Reuters

[Abo Abdullah]

Reuters poll of economists sees US NFP numbers to steadily rise through 2014

In a poll of economists just released by Reuters the following were worth mentioning

•World economic growth +3% 2013 (down from 3.2% in April), +3.7% 2014 (down from +3.8% in April)
•US Jobless rate to average 7% by Q2 2014, fall to 6.7% by end of 2014
•US non farm payrolls to steadily increase through next year, average 225k/month by end of 2014
•Majority expect Fed to start tapering QE in September

[Abo Abdullah]

EU Struggles to hold gains stop becomes ENTICING

Most of the BB inspired gains are gone as the pair struggles to make headway
Since o/b peak rallies to top of s-t bear channel have been sold
Price near s-t structural sup again & large stops sub-1.30 become magnetic
If stops run not much on charts for s-t support until 1.2930/40
Hourly highs, bear channel base & 200 hour MA resisde there
Chart: http://link.reuters.com/sev59t

[Abo Abdullah]

AUD/USD - Strong asian demand ahead of .9100 with stops underneath

[Abo Abdullah]

Bank of America Merrill Lynch - AUD Out Of Sync With Gold, Copper, & SHCOMP Time To Sell

Investors following technical cross-markets strategies should consider establishing short technical tactical AUD/USD positions, advises Bank of America Merrill Lynch.

"We are amazed that AUD/USD has not reacted more violently to the topside, particularly given the sharp gains overnight in the Shanghai Composite, Gold and Copper markets," BofA says.

The failure of AUD/USD to rally more aggressively speaks to a very weak currency pair. Its time to go short," BofA advises.

In line with this view, BofA recommends going short AUD/USD on a spike towards 0.9227 (fibo retracement), with a protective stop at0.9310, and a target at 0.8664, potentially at 0.8066.

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

EU Hedge fund seen buying Euro giving LIFT

A macro hedge fund "aggressively buying euros" was likely behind the EUR/USD's mid-afternoon rise, says Brad Bechtel, managing director at Faros Trading. He adds that such "a decently sized flow can push" prices around amid typically lighter summer trading activity. The euro now up 1% against dollar, trading just above $1.31. The euro is also getting some help from ongoing dollar weakness, which has led the greenback down as low as Y98.696 recently, from as high as Y99.62 earlier in the session. lauren.davidson at dowjones com

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

GBPUSD: Under Pressure Below 1.5304 Despite Recovery

As shown on the daily chart below, the GBPUSD is in extended bullish divergence after breaking below the 1.5129 levels last week, so despite the recovery we witnessed the last 48 hours, the pair remains under pressure as long as holds below 1.5304 on a daily closing basis, a failure to hold above the 1.5304 could mean a return to the 1.4813 levels, a break below 1.4813 will pave the way towards 1.4680 ahead of 1.4500.

On the upside, a daily close above 1.5304 will confirm short term bottoming at 1.4813 levels, If seen the pair is likely to target 1.5440 levels ahead of 1.5600 levels, note that upside move above 1.5304 is likely to be contained well around 1.5600 - below 1.5750 - where resumption of the whole fall from 1.6380 is strongly suggested.

[Abo Abdullah]

Asia Market Report

EUR/USD
•Offers at 1.3150 and then strong at 1.3200
•Buy stops above 1.3100, 1.3160, and 1.3200
•Bids aggregated ahead of 1.3000
•Sell stops under the big figure in good size

AUD/USD
•This pair and NZD/USD were the only majors to completely retrace yesterday's Bernanke-inspired upward move as the opportunity to sell into the larger rallies was seized by hedge funds and leveraged accounts; model funds joined in on the momentum
•Offers from .9190 up to .9200
•Buy stops above .9200
•Large bids from an Asian account ahead of .9100
•Sell stops under that big figure, also under .9080

USD/JPY
•Holding an increasingly tighter range while consolidating post-BB comments
•Offers at 99.50, more at 100.00
•Buy stops above the mid figure in good size
•Bids at 98.20
•Sell stops through 98.00

NZD/USD
•Along with AUD/USD, this pair had given back all of its gains from yesterday, though at this point has now started to come up again
•Offers at .7850, stronger at .7950
•Buy stops above .7850 growing
•Bids at 77.80 through 77.60
•Sell stops below 77.50

EUR/JPY
•Leveraged funds sold this pair on a stop hunt; price then reversed and came back to where it started
•Offers at 129.90, more at 130.40
•Buy stops above 130.00 and 130.50
•Bids at 128.50 and strong ahead of 128.00
•Sell stops under both bid levels

AUD/JPY
•Leveraged funds also sold this pair
•Offers at 91.00 and strong at 92.00
•Buy stops just above 91.00
•Bids in decent size ahead of 90.00
•Sell stops sub-90.00

KEY NEWS AHEAD
•Australian home loans expected 2.5% (01:30 GMT)
•Japanese Capacity Utilization previous reading of 1.6% (04:30 GMT)
•Japanese Industrial Production forecast for 2.0% (04:30 GMT)
•BoJ Monthly Report (05:00 GMT)