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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.
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
Repetition
EUR/USD –leveraged accounts and Real money noted selling at 1.3000 in good size
From London
You can watch the ECB press conference, starting in 30 minutes, via the following link: https://www.ecb.int/press/tvservices...130704.en.html
Repetition
Talk of a few hedge funds looking to sell EUR/JPY today
Valid Till : 15.00 GMT
EUR/USD – Stops under 1.2940 noted growing larger – good
Probability to hit
EUR/USD – Start offers building at 1.2910/00, with sell stops underneath 1.2880
EUR/USD - Cleared stops under 1.2940
EUR/USD - Large stops under 1.2940 getting cleared in the session
Next level Stops under 1.2880 noted growing larger
EUR/USD – Start offers building in good size at 1.2850, with sell stops underneath 1.2830
EUR/USD - stops under 1.2980 not cleared yet ,Probability not confirmed yet to hit based on Volume and contract size Offers
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
EUR/USD
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)