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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here:
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB
  • $USDJPY bull thesis appears quite constructive. Technicals show topside breakout above trend resistance following a period of consolidation. Bond yields providing the fundamental catalyst. Eyes on Aug/YTD highs. A broad-based deterioration in market sentiment poses downside risk.
Daily Observations: December 19, 2012

Daily Observations: December 19, 2012

Christopher Vecchio, CFA, Senior Strategist

Current Positions:

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

Recently Closed Positions:

- Stopped Short AUDJPY from 88.83 at 88.80 for +3-pips

- Stopped Short EURJPY (1/2) from 111.10 at 111.10 for 0-pips, (1/2) at 111.45 for -35-pips

- Stopped Short USDJPY from 84.15 at 84.35 for -20-pips

Time Frame: 1-day to 1-week

What started off as a promising week - catching the highs in the Yen-crosses only to see them fill their respective gaps (to the pip in some cases) before ripping higher - is now a disappointment. There's a saying my colleague Michael Boutros says around the desk - "no one ever lost money booking profit." This is perhaps the best lesson to end the year with; after sitting up over +60-pips in AUDJPY, +100-pips in EURJPY, and +40-pips in USDJPY, the market started to turn against me on the lower time frames (Hammers/bottoming patterns on 15m, 1H) yet I consciously decided to let my trades play out. Obviously, this was a mistake. Further, adjusting my Stop on the Short EURJPY position was very evidently short-sighted and a result of irrational decision making.

Missed opportunities like this are disappointing, but they aren't wasted if a lesson is learned; accordingly, it's always good to review proper risk management guidelines to avoid these mistakes in the future.

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

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.