DailyFX Tips & Picks: Analyst’s pick

CURRENCY STRATEGIST
CHRIS VECCHIO

My pick: Stay short euro-Aussie, short euro-dollar
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: A few hours to a few weeks

Forex traders should rejoice at the end of April. It has been a month to forget: 10-day euro-dollar average trading range (ATR) is at its lowest level since mid-2007, a testament to low volatility and a boring trading environment. Fortunately, with a number of key event risks on the calendar, the time for the euro’s slumber to end may be arriving. Euro-dollar could be more volatile, with a bevy of US economic data due, including the FOMC rate decision tomorrow and non-farm payrolls report on Friday. But the euro’s own calendar is impressive enough to stir greater movement across the euro complex – don’t discount the potential impact of German CPI today, and Eurozone CPI and Spanish Q1 GDP tomorrow.