Daily Observations: April 02, 2013

DailyFX

Current Positions:

Flat

Typical Time Frame: 1-day to 1-week

Nothing doing on my end, but a few noteworthy developments have taken place that warrant review in the Dow Jones FXCM Dollar Index (Ticker: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 200-DMA, however) = SOFT BEARISH

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

1H: 8-EMA

Position: Flat - full time frame continuity not achieved

GBPUSD

Daily: (8-EMA = 21-EMA)

4H: 8-EMA

1H: 8-EMA

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

USDJPY

Daily: (8-EMA 200-DMA = NEUTRAL

4H: 8-EMA

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

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