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.

Free Trading Guides
EUR/USD
Mixed
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
Oil - US Crude
Mixed
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
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Trump says press conference on China will be held Friday - BBG
  • There is a dramatic departure between yield curve pricing for a recession and other measures of near-term growth; the Q2’20 Atlanta Fed GDPNow is extremely alarming.Get your market update from @CVecchioFX here: https://t.co/eMd3T8EwDO https://t.co/joAVurkmJP
  • US Treasury Yields: 2-Year: 0.174% 3-Year: 0.220% 5-Year: 0.346% 7-Year: 0.537% 10-Year: 0.705% 30-Year: 1.474% $TNX
  • White House Economic Advisor Hassett says some workers going back to their jobs is building confidence $DXY $SPX
  • Gold Price Outlook: XAU Overbought as Cycles Drive the Bullish Trend https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/28/Gold-Price-Outlook-XAU-Overbought-as-Cycles-Drive-the-Bullish-JS-Trend.html $Gold https://t.co/ntbvPQTHF9
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.34% Gold: 0.26% Oil - US Crude: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yvJX18QY14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l7878VS4m7
  • As long as this moves forward, the verbal (Twitter) threats of action between the US and China will garner less and less actual market movement https://t.co/pvGOJuAG4N
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.99% Wall Street: 0.76% FTSE 100: 0.08% France 40: -0.03% Germany 30: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/f3oAYUPoEj
  • White House Advisor Kudlow says phase-one deal with China is still planned to move forward $FXI $SPX
Daily Observations: December 5, 2012

Daily Observations: December 5, 2012

2012-12-05 16:45:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Current Positions:

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

- Short EUR/USD from 1.3110, Stop at 1.3150, Target 1 at 1.3030, Target 2 at 1.2990

- Long USD/JPY from 80.65 (1/2), Stop at 80.75 (daily close), Target 2 at 83.30

Time Frame: 1-day to 1-week

Today was a volatile today - first up, then down after the US cash equity open, then back up big by market close - but I maintain my positions nevertheless. My biases haven't changed at all.

However, I am starting to explore the idea of a "fundamentally overbought" Australian Dollar, given the fact that the highest yielding currency covered by DailyFX Research is quite buoyant following the Reserve Bank of Australia rate cut. The cut was mostly priced in, I believe - swaps were suggesting a 92% chance of a 25-bps cut - but the 3Q'12 GDP figure from yesterday was soft, and I'm not convinced that this slowdown in the Australian housing market is just the ebb and flow of the market. Ideally, given the major technical pattern close to breaking to the upside in the AUD/USD - a Symmetrical Triangle dating back to July 2011 - a false, first move up towards 1.0600 or even 1.0850 could result, before the big move lower back towards 0.9000 (thinking long-term: six to twelve months out).

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

https://twitter.com/cvecchiofx

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

DISCLOSURES

News & Analysis at your fingertips.