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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
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
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • #Crudeoil prices could reverse lower as the #OPEC Monthly Oil Market Report (MOMR) forecasts fading global demand and oversupply concerns. Get your #commodities update from @DanielGMoss here: https://t.co/G02ajeLPqZ https://t.co/THuauT4XQ9
  • The outlook for the $EURUSD pair has worsened after its failure to move back to the high just above 1.20 touched on September 1 despite the #ECB’s decision earlier this month not to talk down the Euro. Get your #currencies update from @MartinSEssex here: https://t.co/kDCHxHgGlU https://t.co/Li4jHqaNdC
  • #USDollar Outlook Bearish on Mnuchin & Powell Testimonies, Key US Data ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2020/09/20/US-Dollar-Outlook-Bearish-on-Mnuchin-Powell-Testimonies-Key-US-Data.html
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/fuWSUDE1pT
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eRTdlhAOFN
  • The Japanese #Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy. Get your #currencies update from @DavidJSong here: https://t.co/HFjc6KGzRw
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/n2wESiqnpJ
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/laHmaZXpJe
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
Daily Observations: September 27, 2012

Daily Observations: September 27, 2012

2012-09-27 18:42:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Current Positions:

- Long AUDUSD from net 1.0422 (1.0525, 1.0455, 1.0421, 1.0435, 1.0390), Stop at daily close <1.0395, Target 1 at 1.0615, Target 2 at 1.0670, Target 3 at 1.0800

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

Pending Positions:

- Pending Long USDJPY daily close >80.65

- AUDUSD: The 61.8% Fibo retracement (September 6 low to the September 14 high) coupled with the 200-DMA at 1.033/40 held as support yesterday, allowing for a rebound today. It is worth noting that a Falling Wedge has formed on the 4-hour charts off of the high, with a close above 1.0420/30 suggesting a breakout back towards the highs. Interim resistance comes in at 1.0415/25 (20-EMA, mid-August swing lows), and 1.0480/85. Near-term support comes in at 1.0370/85 (descending trendline off of the August 9 and August 23 highs, 50-EMA), 1.0335/40, and 1.0270/80. Bias: bullish above 1.0250/70.

- EURUSD: An Inside Day today has kept our levels from yesterday intact: “With the pair closing below the 61.8% Fibo retracement (February 2012 high to the July 2012 low) at 1.2934 [on Tuesday], a move towards the next level of support in the mid-1.2800s was to be expected. Interim support comes in at 1.2825/40 (20-EMA, 200-DMA, late-April swing high). Near-term resistance lies at 1.2905/10 (5-EMA), 1.2930/35, 1.3000, 1.3145, and 1.3165/75 (September high).” Bias: bullish above 1.2935.

- GBPUSD: The GBPUSD rebound today comes as no surprise considering that it had held up remarkably well amid a flight to safety the past week or so. Price has rebounded ahead of the key 1.6120/40 level, leaving the door open for a move towards 1.6400 by the end of the month. “The former April swing highs at 1.6260 (by close), 1.6300 (by high) are in focus, now that the descending trendline off of the April 2011 and August 2011 highs broke last week. Below 1.6120/40 support comes in at 1.6095/1.6100 (20-EMA), 1.5970 (ascending trendline off of August 2 and August 31 lows, former channel resistance off of June 20 and August 23 highs), and 1.5770/85 (late-August swing lows). Bias: bullish above 1.6140.

- USDJPY: Price hovers near the key 77.65/70 level, a major level of support considering it was the June 1 swing low that held for three-months. A daily close above this level eyes resistance at 77.90, 78.10/20, 78.60, 78.90/95 (100-DMA, descending trendline off of the April 20 and June 25 highs), and 79.20/30 (200-DMA, September high). Should price close at or below 77.65/70, support comes in at 77.45/50, and 77.10/15 (September low). Bias: bearish.

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