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Daily Observations: April 10, 2013

Daily Observations: April 10, 2013

2013-04-10 15:00:00
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 the declines seen by the Japanese Yen and the US Dollar have shifted momentum in the near-term, presenting bullish opportunities for the Aussie and the Euro.

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 = BULLISH

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

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

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

GBPUSD

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

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

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

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

USDJPY

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

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

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

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

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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