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Daily Observations: March 05, 2013

Daily Observations: March 05, 2013

Christopher Vecchio, CFA, Senior Strategist

Current Positions:

- Short EURUSD from 1.3035, Stop at 1.3080, Target 1 at 1.2965 (will add below)

Typical Time Frame: 1-day to 1-week

Recently Closed Positions:

- Closed Short GBPUSD from 1.5145 (1/2) at 1.5000 for +145-pips; net +70.

Markets are volatile, looking to take any positions in AUDUSD, EURUSD, and GBPUSD should the 8-/21-EMA system criteria be met. This morning, a Short EURUSD position was taken (via the DailyFX RTN) following the US ISM Services (FEB) report.

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

I also host a weekly Live Trading Q&A in DailyFX Plus, on Tuesdays at 07:15 EST / 12:15 GMT, in which I delve deeper into my positions and thought processes behind my analyses.

--- 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.

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