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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Time to break out some ratios like commercial real estate property tickers (eg $SPG) relative to Amazon ($AMZN) or Carnival Cruise ($CCL) relative to Netflix ($NFLX)
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.07% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.42% 🇪🇺EUR: -0.54% 🇳🇿NZD: -0.59% 🇨🇭CHF: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VvEMwfDftX
  • Rising yields (the aggregate yield I mentioned earlier is overlaid and inverted in red here) is dragging gold lower. The 60-day correlation (3 trading month) between $GC_F and yields is the strongest net negative since Oct 2019 https://t.co/Myo0FlsvJA
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.42% Silver: -0.47% Gold: -1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fxdEWv4bfo
  • The Australian Dollar now risks a deeper March correction with the AUD/USD price reversal approaching multi-month uptrend support. Get your $AUDUSD market update from @MBForex here:https://t.co/jYfBrd5b22 https://t.co/tbU9BM3n3L
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.43%, while traders in Germany 30 are at opposite extremes with 80.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/W16EBX7wwK
  • US equities end the day mixed, as market participants continue to rotate $DOW 31801.91 +0.97% $SPX 3821.22 -0.54% $NDX 12299.0 -2.92% $RTY 2202.99 +0.49% $VIX 26.24 +6.41%
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.01% France 40: -0.28% Germany 30: -0.29% FTSE 100: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LqhrKYMQFh
  • US Dollar strength continues, as USD/CHF surpasses 0.935 $USDCHF https://t.co/5RDZfc5tCp
  • The US Dollar set a fresh three-month-high on the back of a strong headline number in the Non-farm Payrolls report. Get your $USD technical analysis from @JStanleyFX here:https://t.co/ErM0N51RWP https://t.co/yzc3gfko6c
Daily Observations: March 28, 2013

Daily Observations: March 28, 2013

Christopher Vecchio, CFA, Senior Strategist

Current Positions:

Flat

Recently Closed Positions:

- Exited Short EURUSD from 1.2938 at 1.3005 for -67-pips.

- Closed Short EURUSD (1/4) from 1.3142 at 1.2810 for +332-pips; equivalent to full position gain of +83-pips.

Typical Time Frame: 1-day to 1-week

The initial short EURUSD trade taken ahead of the Cypriot bailout was stopped out for -67-pips, but the retest of the daily 21-EMA triggered another sell on my part, with the position being closed today at 1.2810 for +332-pips. Although I see potential for the EURUSD to trade lower, a bullish 8-/21-EMA crossover on the hourly timeframe has diminished full time frame continuity momentum, trigger the "close" rule in my strategy. With both the 4H and daily timeframes offering bearish EMA crossovers, however, I remain open to reselling the EURUSD.

[Post-script addendum: the short EURUSD position from 1.3142 was not a full sized position; I only took a 1/4 size. Accordingly, weighted equivalently to the prior EURUSD loss of -67-pips, the winning trade was +83-pips.]

A quick update on trends in the other major pairs I'm watching, based on the 8-/21-EMA crossover system I'm using in these volatile markets:

AUDUSD

Daily: 8-EMA > 21-EMA > 200-DMA = BULLSH

4H: 8-EMA < 21-EMA = BEARISH

1H: 8-EMA < 21-EMA = BEARISH

Position: Flat - full time frame continuity not achieved

GBPUSD

Daily: 8-EMA < 21-EMA < 200-DMA = BEARISH

4H: 8-EMA < 21-EMA = BEARISH

1H: 8-EMA = 21-EMA = NEUTRAL

Position: Flat, waiting on 1H for a sell-signal

USDJPY

Daily: 8-EMA > 21-EMA > 200-DMA = BULLSH

4H: 8-EMA < 21-EMA = BEARISH

1H: 8-EMA < 21-EMA = BEARISH

Position: Flat - full time frame continuity not achieved

As always, any other trade ideas and general macroeconomic musings can be found in the DailyFX Real Time News feed, or by following me on Stocktwits/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.

DISCLOSURES