News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 72.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CUNmrUFPzy
  • The New Zealand Dollar has slipped lower in recent days against its major counterparts, as risk appetite notably faded. Key levels to watch for NZD/USD, NZD/JPY and AUD/NZD. Get your $NZD market update from @DanielGMoss here:https://t.co/E0OyTqxvcL https://t.co/meJhfb6V9R
  • A part of Hong Kong's Kowloon district will go into lock down this week: SCMP via BBG
  • Hong Kong mulls offering Dollar-denominated green bonds - BBG
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:https://t.co/HuXPXu5PFU https://t.co/Q9QnbdXww5
  • #Bitcoin prices have dropped through 30k so far during the early hours of Friday trade (down about 4% thus far) This follows a sharp selloff through the 20-day SMA with prices now eyeing the medium-term 50-day just above the 38.2% Fib retracement at 27421 $BTCUSD https://t.co/2gyC2W1TKS
  • RT @FxWestwater: New Zealand Dollar Outlook: Kiwi Aided as CPI Tempers #RBNZ Rate Cut Bets Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/01/22/New-Zealand-Dollar-Outlook-Kiwi-Aided-as-CPI-Tempers-RBNZ-Rate-Cut-Bets.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $NZDUSD https://t…
  • 🇦🇺 Retail Sales MoM Prel (DEC) Actual: -4.2% Expected: -2.5% Previous: 7.1% https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇦🇺 Retail Sales MoM Prel (DEC) Actual: -4.2 Expected: -2.5% Previous: 7.1% https://www.dailyfx.com/economic-calendar#2021-01-22
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:https://t.co/qxQwHgD9Ey https://t.co/IvoC4IEmiF
Daily Observations: September 7, 2012

Daily Observations: September 7, 2012

Christopher Vecchio, CFA, Senior Strategist

Current Positions:

- Short AUDUSD from 1.0380, Stop at 1.0420, Target 1 at 1.0240, Target 2 at 1.0170

- Long EURCHF from 1.2018, Stop at 1.1990, Target 1 at 1.2500, Target 2 at 1.2750

- Long USDJPY from 78.58, Target 1 at 79.60, Target 2 at 80.60/65

Pending Positions:

- Pending Long USDJPY daily close >80.65

- AUDUSD: The AUDUSD is back on the rebound following Chinese infrastructure stimulus measures, definitively breaking the steep descending channel off of the August 22 high and trading back into its former channel off of the August 9 high. Accordingly, topside resistance comes in at 1.0350/55 (20-DMA), 1.0370/80 (channel resistance) and 1.0410/20 (mid-August swing lows). A breakdown eyes 1.0275/1.0300, 1.0210/25, and 1.0160/75 (weekly low). Bias: bearish.

- EURUSD: The EURUSD has threatening a major breakout today, pushing through formerly yearly lows at 1.2625/30 and the descending trendline off of the August 2011 and October 2011 highs. While this would buck the yearlong downtrend that has been in play up to 1.2740/50 (just below the measured 1.2760 target off of the Inverse Head & Shoulders), there could be some profit taking soon for a small pullback. Overall, with price supported by 1.2440/45, our outlook remains bullish, and a shift in our medium-term bias would be necessary if price closes above 1.2670 today. Near-term resistance comes in at 1.2740/50 (mid-June swing highs), 1.2820/25 (late-May swing highs), and 1.2980/1.3000. Support comes in at 1.2625/30 (former yearly lows), 1.2500/10, and 1.2460/80. Bias: bullish.

- GBPUSD: The GBPUSD finally cracked through topside channel resistance at 1.5900/05 yesterday, but thus far has struggled to produce meaningful gains higher. With an Inverted Hammer forming on the daily chart, there is evidence to believe that a false breakout may have formed. If price fails to eclipse 1.5910 on the close today, there is scope for a pullback towards 1.5770/90. However, a weekly close above said level gives reason to believe that a run up to 1.6120/40 is possible during September. Bias: bullish above 1.5770/90.

- USDJPY: Strong jobs data and some relief in the Euro-zone crisis has helped spur the USDJPY higher, with price closing back above the key 78.60 level yesterday. Now, there is scope for gains into 79.20/30, confluence of the 100-DMA, 200-DMA, and the descending trendline of off the April 20 and June 25 highs. Accordingly, a break of this downtrend is contingent upon strong US labor market data today in the form of the US Nonfarm Payrolls report. A daily close below 78.60 suggests a move towards 78.10/20 at the minimum (a level of demand this week as well as through early-August). Penetration of the August low at 77.90 will likely result in a washout to new lows with the potential for 77.65/70 and 77.30. Bias: bullish.

Any other trade ideas and general macroeconomic musings can be found in the Real Time Newsfeed, or by following me on twitter @CVecchioFX.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, send an e-mail with subject line "Distribution List" to cvecchio@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES