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.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The $USD breakdown has taken the index into confluence support at the objective yearly open. Get your USD technical analysis from @MBForex here: https://t.co/A16XEv6n4d https://t.co/GzEp3gCAe5
  • US equities continue to run higher with the Nasdaq 100 setting a fresh all-time-high, not even three months after giving back almost a third of its value in about a month. Get your #Nasdaq technical analysis from @JStanleyFX here: https://t.co/1LI54uvI8x https://t.co/e9FvSLqfaA
  • The US Dollar may be at risk to losses against some of its #ASEAN counterparts. USD/SGD, USD/PHP, USD/MYR and USD/IDR have recently broken to the downside. Will losses continue? Find out from @ddubrovskyFX here: https://t.co/0RTlj6maTT https://t.co/UyQ4i0AihI
  • The British Pound technical outlook still seems to favor the downside. GBP/CAD may pressure key rising support from August as GBP/AUD could prolong its downtrend. GBP/CHF may fall. Get your $GBP market update from @ddubrovskyFX here: https://t.co/hBOpDKXmfW https://t.co/AJlT2YKeCu
  • USD/JPY is approaching medium-term uptrend resistance and while the outlook remains constructive, the advance may be vulnerable near-term while below confluence resistance. Get your $USDJPY technical analysis from @MBForex here: https://t.co/93D7AyhHtG https://t.co/KQcLLrkMP3
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
Daily Observations: April 25, 2013

Daily Observations: April 25, 2013

2013-04-25 16:00:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Current Positions:

- Flat

Typical Time Frame: 1-day to 1-week

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

The Aussie, Euro, and Sterling have had a tumultuous go of things lately and quite frankly, none of them are trading in ways that I prefer; there's a lack of full time frame continuity in the AUDUSD, EURUSD, and GBPUSD. My attention is on the USDJPY.

The USDJPY continues to consolidate in the apex of a Bullish Ascending Triangle (horizontal resistance at 99.80/100.00; diagonal support is tracing the 8-EMA at 99.15). Another possible outcome exists: a Bearish Double Top below 100.00. With the daily RSI uptrend intact, I am partial to the bullish outcome, which is reinforced by price remaining supported by the 8-EMA, now at 98.85/90. The Hammer yesterday at the 8-EMA bolsters the bullish case as well. Deeper pullbacks eye 97.60/65 (21-EMA) and 96.60.

AUDUSD

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

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

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

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

EURUSD

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

4H: 8-EMA = 21-EMA = NEUTRAL

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

Position: Flat, waiting on daily crossover (structure is compressing)

GBPUSD

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

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

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

Position: FLAT, waiting on 1H crossover for a buy signal

USDJPY

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

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

1H: 8-EMA < 21-EMA = BEARISH (close to flipping)

Position: Flat, waiting on 1H crossover 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

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

News & Analysis at your fingertips.