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European Session: Orders and Options Watch Print E-mail
Action Insight Archives | Written by ActionForex.com | May 07 12 07:17 GMT

European Session: Orders and Options Watch

EUR: The single currency opened lower this morning after Friday's selloff and option barrier at 1.3000 were tipped, however, bids above next barrier at 1.2950 contained euro's downside so far and the pair has rebounded from intra-day low of 1.2956. At the moment, offers are still noted at 1.3070-75 and further out at 1.3095-00 with some stops building up above 1.3150 and 1.3180. On the downside, bids remain above said option barrier and more buying interests from Asian sovereign names are located at 1.2920-25 and 1.2900 (another barrier).

GBP: Although the British pound also dropped initially this morning to as low as 1.6115 and bids at 1.6150 and 1.6120 were filled, however, fresh demand from Eastern European names contained the pair's downside and lifted cable in London morning. At the moment, buying interests from same parties are still noted at 1.6100-10 and further out at 1.6070-75 whilst on the upside offers are lined up at 1.6180 and also at 1.6200 with stops building up above latter level as well as 1.6220.

CHF: The greenback also opened higher this morning and surged to as high as 0.9272 before running into offers from European names and has retreated in European opening, however, bids are still noted at 0.9190-00 and mixture of bids and stops is seen at 0.9170-75 with bigger buy orders located at 0.9115-20, sizeable stops are building up below 0.9095-00. On the upside, offers are still noted at 0.9260-70 with some stops seen above 0.9275, followed by mixture of offers and stops at 0.9300-05.

JPY: Dollar traded within relatively narrow range of 79.64-79.98 and further sideways trading is expected to continue, although price has retreated on risk aversion, bids are still noted at 79.60-65 with more bids tipped above 79.50 option barrier and more barriers are located at 79.25 and 79.00. On the upside, offers from exporters remain at 80.00 and also at 80.35-40 with mixture of offers and stops in good size at 80.60-65.

 
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