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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • Bitcoin bulls surrendered as prices dropped to $38,000. USD supported crypto rally as prices were working higher. Get your market update from @Tams707 here:https://t.co/OiW9Ez73mL https://t.co/NIYPXQA65G
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.68% 🇦🇺AUD: 0.45% 🇯🇵JPY: 0.26% 🇨🇭CHF: 0.13% 🇪🇺EUR: -0.06% 🇨🇦CAD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dO4whJ6kMI
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.52% Oil - US Crude: -0.14% Gold: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tYSNBHnkqM
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in France 40 are at opposite extremes with 82.23%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/johVLfSi0a
  • US Dollar Index treading water above the 92 handle ahead of Friday's jobs report $DXY $USD https://t.co/PKfMKpJBwu
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.22% Germany 30: 0.20% FTSE 100: 0.11% US 500: 0.01% Wall Street: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WiPPINSivr
  • Stocks’ earnings data was strong; rocky 3Q’21 may be underway US economic data begins to sour, but the delta variant gives the Fed cover. Get your $USD market update from @CVecchioFX here:https://t.co/sq7BsfyNe9 https://t.co/Ado2dPBJLd
  • #Gold Price Outlook: Gold August Battle Lines Drawn- $XAUUSD Levels - https://t.co/xsdZiL8uyy https://t.co/KnGbp5nXyI
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.56% Oil - US Crude: -0.11% Gold: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ZNNdqAFGoX
  • US Senator Schumer: Senate will finish infrastructure and budget bills before August recess $USD $DXY
Daily Observations: May 15, 2013

Daily Observations: May 15, 2013

Christopher Vecchio, CFA, Senior Strategist

Current Positions:

- Flat

Recently Closed Positions

- (05/13) Short AUDUSD (1/2) from 1.0150 at 0.9980 for +170-pips.

- (05/13) Long USDJPY (1/2) from net 100.07 at 102.00 for +193-pips.

- (05/14) Short AUDUSD (1/4) from 1.0150 at 0.9900 for +250-pips.

- (05/15) Short AUDUSD (1/4) from 1.0150 at 0.9860 for +290-pips

- (05/15) Long USDJPY (1/2) from net 100.07 at 102.000 for +193-pips.

- Closed Short AUDUSD for net-gain +220-pips.

- Closed Long USDJPY for net-gain +193-pips.

Typical Time Frame: 1-day to 1-week

Both the short AUDUSD and long USDJPY trades were closed out today. The AUDUSD trade matured nicely, hitting my final $0.9860 target (ascending TL off of Oct'11 and Jun'12 lows, weekly 200-SMA) and has since rebounded firmly. I'll be looking to resell a rally towards 0.9940, and price shouldn't exceed 1.0030/60 if the downtrend is to remain over the coming weeks.

The USDJPY trade, on the other hand, was cut short amid a steeper than expected pullback, but +193-pips were retained so at this point it's about timing the reentry for a continuation into 103.30. Be sure to follow my Twitter on the DailyFX RTN (links below) to get my latest and most timely trade updates.

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

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. [View the archive of my most recent webinar here]

--- 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