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BK EUR/AUD Big Trade Orders – CANCELED
**Orders Cancelled 7/20
Place Order to Sell 1 Lot EUR/AUD at 1.4950
Place Order to Sell 1 More at 1.5120
The euro is not out of the woods. First and foremost, the Greek Parliament still has to approve the 6 reforms they rejected at the referendum before a Grexit can be completely avoided. Even if they do, chances are Draghi will be cautious/dovish at this week’s ECB meeting. We are selling euros through EUR/AUD because we believe that the stabilization in Chinese equities should lift the Australian dollar. Also we expect the Chinese government to continue “massaging” economic data to avoid further collapse in equities. *We are selling EUR/AUD on a bounce