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Daily Observations: April 02, 2013

Daily Observations: April 02, 2013

2013-04-02 16:00:00
Christopher Vecchio, CFA, Senior Strategist
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Current Positions:

Flat

Typical Time Frame: 1-day to 1-week

Are you new to FX or curious about your trading IQ?

Nothing doing on my end, but a few noteworthy developments have taken place that warrant review in the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) components.

AUDUSD

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

4H: 8-EMA > 21-EMA = BULLISH

1H: 8-EMA > 21-EMA = BULLISH

Position: Flat, waiting on 1H for buy-signal

EURUSD

Daily: (8-EMA < 21-EMA) < 200-DMA (21-EMA > 200-DMA, however) = SOFT BEARISH

4H: 8-EMA > 21-EMA = BULLISH

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

Position: Flat - full time frame continuity not achieved

GBPUSD

Daily: (8-EMA = 21-EMA) < 200-DMA = NEUTRAL (bearish cross imminent)

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

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

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

USDJPY

Daily: (8-EMA < 21-EMA) > 200-DMA = NEUTRAL

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

1H: 8-EMA > 21-EMA = BULLISH

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

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