Hi all! I have no idea re: E/U other than the eurozone has been making a lot of noise lately trying to get china to stop buying euro's and trying to discourage further appreciation. W/that said, I found this little tidbit of news from Thompson pretty interesting....doesn't influence how we should look at the charts, but maybe reinforces that important players take advantage of momentum too.....
13:37 EUR/USD: Talk Of Good Sized Reserve Player Selling 1.47 Break London, December 5. After the sharp sell-off we are beginning talk of the main players involved in the move. Talk circulating the New York market suggests one of the big reserve players was responsible for pushing price clean under 1.4700 following the U.S data surprise. There are also rumours that Asian central banks joined the move to the indicated 1.4665 lows
hmmmm....maybe we are seeing unified effort to help support the dollar? interesting.......
13:37 EUR/USD: Talk Of Good Sized Reserve Player Selling 1.47 Break London, December 5. After the sharp sell-off we are beginning talk of the main players involved in the move. Talk circulating the New York market suggests one of the big reserve players was responsible for pushing price clean under 1.4700 following the U.S data surprise. There are also rumours that Asian central banks joined the move to the indicated 1.4665 lows
hmmmm....maybe we are seeing unified effort to help support the dollar? interesting.......