Its you thats doing it Goober?
Recent Refco Report
London, November 4: EUR/USD is
retesting the session highs of 1.1479 as early New Yorkers look for more stops
above 1.1480.
In the absence of any US data releases we would not be surprised to see a
session of consolidation after yesterday"s ISM inspired EUR/USD sell off. Good-
size multi-account sell orders are expected around 1.1500, which could work to
stall the euro"s upside correction.
US equities (the Dow up 57-points Monday) will be keenly monitored while dealers
are likely to keep an eye on Brussels for any more stability pact rhetoric from
the finance ministers meeting.
Technically, the intraday chart is losing momentum as EUR/USD has failed to beat
the 1.1480 session best. However a break above could pave the way for further
gains towards fibo resistance at 1.1500 (38.2% of 1.1620/1.1430 move) and 1.1525
(50%). --
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Boston, November 4:
EUR/USD has shown little propensity to bounce very far, rebounding toward the
top of its consolidation range near 1.1480 before stalling, but no further. The
EU continues to rollout the day of reckoning for France and Germany, giving them
another three weeks to get their fiscal houses in order, like that is going to
do any good. Expect some cosmetic efforts at budget consolidation while the EU
looks the other way. Not a EUR positive.
EUR/JPY has rebounded from an overnight slide, helping underpin the EUR
intraday. With no US data today, cross flows and equity prices will get close
attention. Small stops are seen above 1.1480, but offers are seen at 1.1500.
Options protection is rumored on dips to 1.1425/30, ahead of 1.1400 strikes. --
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