Many professional traders will cancel their orders on a Friday night as they don’t want to be involved in the distasteful stop-loss hunts which happen in the early Monday interbank market. These cancelled orders tend to be replaced on a Monday throughout the day.
Reports from NY on Friday afternoon suggest that most of the immediate short-stops in EUR/USD have now been done so we may see a period of consolidation (1.3650/1.3850ish) before the macro stops on the topside get challenged (if indeed they do at all!). Bids are reported starting at 1.3715.
