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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • RT @macrodesiac_: If you know you know. https://t.co/W2LYqathr5
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -1.45% Wall Street: -1.78% FTSE 100: -3.03% France 40: -3.10% Germany 30: -3.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Yt3BFBNgjZ
  • ECB's Lagarde says Euro appreciation places downward pressure on prices, adds that the ECB are attentive to the Euro's appreciation $EUR
  • Italy regional vote - Exit poll sees centre left narrowly ahead of right in Tuscany vote
  • ECB's Lagarde says the ECB will open consultation on digital Euro within days
  • US President Trump says in regard to TikTok that China must give up on control or no deal
  • 🇨🇦 New Housing Price Index YoY (AUG) Actual: 2.1% Previous: 1.7% https://www.dailyfx.com/economic-calendar#2020-09-21
  • 🇺🇸 Chicago Fed National Activity Index (AUG) Actual: 0.79 Expected: 1.95 Previous: 1.18 https://www.dailyfx.com/economic-calendar#2020-09-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.77%, while traders in NZD/USD are at opposite extremes with 72.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/LGODzLXvvD
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the week! https://t.co/chKtG7waxH
Daily Observations: November 14, 2012

Daily Observations: November 14, 2012

2012-11-14 16:25:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Current Positions:

- Short AUD/CAD from 1.0455, Stop at 1.0540, Target 1 at 1.0310

- Long EUR/USD from 1.2720, Stop at 1.2620, Target 1 at 1.2790, Target 2 at 1.2960

- Long EUR/CHF from 1.2018, Stop at 1.1990, Target 1 at 1.2500, Target 2 at 1.2750

Time Frame: 1-day to 1-week

Pending Positions:

- Pending Long USD/JPY daily close >80.65

Recently Closed Positions:

- Closed Long AUD/JPY from 82.08 at 82.80 for +72-pips

- Exited Long GBP/USD from 1.5975 at 1.5895 for -80-pips

Yesterday I took a short AUD/CAD based on both the hourly and 4-hour RSI coming into overbought territory at the weekly R1 at 1.0455. With risk-aversion increasingly prevalent, this fundamentally is sound as well given the shift from high yielding currencies into low yielding currencies as concerns develop.

I’m also maintaining my long EUR/USD position, with no daily close below 1.2620. So far, it has stuck within the parameters of my expectations, so there is no change in the plan here.

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, please fill out this form

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

DISCLOSURES