Market Overview |
Written by ActionForex.com |
May 07 12 14:03 GMT
US Session: Orders and Options Watch
EUR: The single currency has continued to edge higher today and orders at 1.3045-50 were filled, however, offers from various parties are still noted at 1.3070 and further out at 1.3095-00 with stops building up above latter level but fresh sell orders are expected to emerge around 1.3140-50. On the downside, bids from Middle East names are reported at 1.3000 and also at 1.2970 with mixture of bids and stops (related to 1.2950 option barrier) located at 1.2950-60 but fresh buying interests from same names and Asian sovereign names are tipped at 1.2920-25 and 1.2900. Option expires today include 1.3000 and 1.3025 (NY cut).
GBP: Although the British pound has rebounded in London session on back of buying from Middle East names, offers from UK clearer are still noted at 1.6190-00 and cross-related offers are also tipped at 1.6215-20 with stops building up above there and further out at 1.6250. On the downside, bids are raised to 1.6135-40 and also at 1.6110-15 with stops building up below 1.6100 but fresh demand should emerge further out at 1.6075-85 and also at 1.6050.
CHF: The greenback slipped from intra-day high of 0.9272 throughout Asian and European sessions and bids at 0.9225-30 were filled but more buying interests are still noted at 0.9190-95 and also 0.9170-75 with stops seen below latter level, followed by mixture of bids and stops at 0.9110-20. On the upside, first offers are reported at 0.9255-60 with stops placed above 0.9275-80 with more selling interests likely to emerge around 0.9300 and 0.9350.
JPY: Dollar continued to trade in narrow range in European session and U.S. opening, indicated offers at 80.00 are still capping the pair's upside so far, more selling interest from exporters remain at 80.40 and also at 80.60 with stops building up above latter level. On the downside, bids are lined up at 79.65-70 with stops remain below option barrier at 79.50, more barriers are located at 79.25 and 79.00.