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Well this was one violent profit taking - a need to justify legal fees is becoming fominant for FX market makers now
Well this was one violent profit taking - a need to justify legal fees is becoming fominant for FX market makers now
That looks more like panic
Eur/usd is trapped in the narrow range, and you are right, overall trend is still bearish.
Good trade, i am totally agree with you, thank you.
For a moment I thought that it is SNB intervening (protecting the CHF) but the EURCHF is dangerously closing to level 1.2 while EURUSD is rising
For a moment I thought that it is SNB intervening (protecting the CHF) but the EURCHF is dangerously closing to level 1.2 while EURUSD is rising
It was not SNB. It is positions closing due to large banks being fined and reorganizing the whole FX divisions. Market makers are regrouping
It was not SNB. It is positions closing due to large banks being fined and reorganizing the whole FX divisions. Market makers are regrouping
They are going to be looking to cover the legal loses - we can expect more aggressive rigging now
Long to short ratios before the market open :
Small gap up : 1.2538 at a moment (Bloomberg rates)
Small gap up : 1.2538 at a moment (Bloomberg rates)
Nagh : the gap is almost closed already. there will be no surprises
It seems gap has closed, we have Draghi's speech to look forward to tomorrow.