Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
Yes, continued tight range. Very interesting and very strong showing support on the december at 1.2133-34 at US markets open 09:30 EST. That's around 1.2139-40 on the spot - 'incidentally' similar support showed yesterday.
Wonder if that one will be flooded .
edit: some confirmation reports ...
[13:36 EUR/USD: Rumored Asian Bids Near 1.2140] Boston, September 16: The market has made a number of attempts to take EUR/USD through 1.2135 support this morning but rumored Asian CB bids are helping keep the pair range-bound. US investment names have been keen sellers at the lows but will not likely sit still for long if 1.2135 support is not removed. Stops are gathering in the 1.2170 area, dealers report.
[13:34 FX OPTIONS: EUR/USD Vol Crush Continues - New 1mth Year Low] London, September 16: Option selling interest is continuing to depress implied volatilities, with the 1mth at a fresh 12-month low of 8.6/8.8 last, having opened the week at 9.5/9.7.
At the back of the curve, the 6mth is 9.95/10.0 last, having traded at 10.2 pct and 10.15 pct earlier this week.
Expect vols to remain heavy into the weekend if spot continues to pivot 1.2150 (a 1.2000-1.2300 DNT remains in play)...
Attacks are pouring in with gale force it seems ..
Wonder if that one will be flooded .
edit: some confirmation reports ...
[13:36 EUR/USD: Rumored Asian Bids Near 1.2140] Boston, September 16: The market has made a number of attempts to take EUR/USD through 1.2135 support this morning but rumored Asian CB bids are helping keep the pair range-bound. US investment names have been keen sellers at the lows but will not likely sit still for long if 1.2135 support is not removed. Stops are gathering in the 1.2170 area, dealers report.
[13:34 FX OPTIONS: EUR/USD Vol Crush Continues - New 1mth Year Low] London, September 16: Option selling interest is continuing to depress implied volatilities, with the 1mth at a fresh 12-month low of 8.6/8.8 last, having opened the week at 9.5/9.7.
At the back of the curve, the 6mth is 9.95/10.0 last, having traded at 10.2 pct and 10.15 pct earlier this week.
Expect vols to remain heavy into the weekend if spot continues to pivot 1.2150 (a 1.2000-1.2300 DNT remains in play)...
Attacks are pouring in with gale force it seems ..
The dam broke! Nice slugfest ...
1.21 on the horizon, maybe the break from the range is upcoming ...
[13:48 EUR/USD: Cross Pressures Overcome 1.2135 Support] Boston, September 16: Cross selling of EUR, particularly against GBP as well as some decent US economic data has the EUR under pressure, breaking back below the 1.2135 level and opening the way for a retracement toward 1.2030. 1.2115 is good support along the way. 1.2135/40 and 1.2160/65 are resistance now on rallies.
[13:36 EUR/GBP: Big Down Day Fueled By UK Selling] London, September 16: Having failed yet again at levels approaching 0.6850 the cross has taken a major step lower. The catalyst to the move lower clearly the better than expected UK retail sales data. Some of the heaviest selling has come out of New York with a UK clearer reportedly picking up the pound from levels around 0.6810-15 and all the way down to the 0.6885 lows. Talk of reasonable sized bids in the market, again UK names mentioned, in the 0.6870-80 area. This buying interest might trigger a bout of late London short covering but for now the pound is on a roll. The next major support point is a way off at 0.6760, the September 7 outside day low.
[09:30 EUR/USD: Unsurprising Eurozone Inflation Lets Dealers Sleep] London, September 16: [EUR/USD] has reacted little to the confirmation of Eurozone inflation at 0.2% m/m and 2.3% for the year. Corporate orders had formed the basis of the morning"s dealings and with their completion, trading has dipped from 1.2165 and now looks to test 1.2140 bids. A break here would target the 61.8% fibo level at 1.2135 of the 1.2030-1.2310 move. With the price dipping back towards the intraday range-base, traders have noted little of interest emerging this morning and feel this trend is likely to continue as the broader range continues to narrow. Daily charts continue to roll over but some analysts are now pointing to the emergence of a triangle pattern with the top drawn from 1.2925 on Feb 18 and the base from 1.1955 on Jun 14. The parameters of this formation are now at 1.2300 and 1.1985 and a break of either side will initiate the next trending move. However no break here is expected until the expiry of a 1.2000-1.2300 DNT option.
1.21 on the horizon, maybe the break from the range is upcoming ...
[13:48 EUR/USD: Cross Pressures Overcome 1.2135 Support] Boston, September 16: Cross selling of EUR, particularly against GBP as well as some decent US economic data has the EUR under pressure, breaking back below the 1.2135 level and opening the way for a retracement toward 1.2030. 1.2115 is good support along the way. 1.2135/40 and 1.2160/65 are resistance now on rallies.
[13:36 EUR/GBP: Big Down Day Fueled By UK Selling] London, September 16: Having failed yet again at levels approaching 0.6850 the cross has taken a major step lower. The catalyst to the move lower clearly the better than expected UK retail sales data. Some of the heaviest selling has come out of New York with a UK clearer reportedly picking up the pound from levels around 0.6810-15 and all the way down to the 0.6885 lows. Talk of reasonable sized bids in the market, again UK names mentioned, in the 0.6870-80 area. This buying interest might trigger a bout of late London short covering but for now the pound is on a roll. The next major support point is a way off at 0.6760, the September 7 outside day low.
[09:30 EUR/USD: Unsurprising Eurozone Inflation Lets Dealers Sleep] London, September 16: [EUR/USD] has reacted little to the confirmation of Eurozone inflation at 0.2% m/m and 2.3% for the year. Corporate orders had formed the basis of the morning"s dealings and with their completion, trading has dipped from 1.2165 and now looks to test 1.2140 bids. A break here would target the 61.8% fibo level at 1.2135 of the 1.2030-1.2310 move. With the price dipping back towards the intraday range-base, traders have noted little of interest emerging this morning and feel this trend is likely to continue as the broader range continues to narrow. Daily charts continue to roll over but some analysts are now pointing to the emergence of a triangle pattern with the top drawn from 1.2925 on Feb 18 and the base from 1.1955 on Jun 14. The parameters of this formation are now at 1.2300 and 1.1985 and a break of either side will initiate the next trending move. However no break here is expected until the expiry of a 1.2000-1.2300 DNT option.