Daily Forex Fundamentals – April 4, 2013

What’s on the Economic Horizon
BOE: No changes in monetary policy?
ECB rate decision coming up
FOMC policymakers to give testimonies

U.S. Dollar (USD)

What goes around comes around, so they say. The Greenback learned this the hard way as it returned some of its recent gains to its major counterparts yesterday. EUR/USD pulled up to the 1.2850 area while GBP/USD retraced to 1.5150. What caused the dollar selloff? Read more…

Euro (EUR)

Well, that was quick! The euro completely erased its losses from Tuesday as it pocketed a few pips against the dollar to push EUR/USD up from its opening price of 1.2816 to 1.2848. Where will the markets take it today? Read more…

British Pound (GBP)

Not bad, pound bulls! The pound might have weakened against most of its counterparts but it had also posted gains against the Greenback. Guppy slipped by 47 pips but Cable shot up by 32 pips. What’s ahead for the pound today? Read more…

Japanese Yen (JPY)

Oh, I bet yen traders are on the edge of their seats waiting to hear what the BOJ has to say! After crashing by more than 50 pips during the Asian session, USD/JPY moved sideways between 92.75 and the 93.00 handle. Which way could it break out? Read more…

Canadian Dollar (CAD)

What an absolute snoozer! After an entire day of trading, USD/CAD settled just 2 pips below its opening price at 1.0147. Let’s see if it’ll come to life today! Read more…

Australian Dollar (AUD)

The Aussie got tugged this way and that during yesterday’s trading sessions as AUD/USD staged a strong rally to 1.0490 in the Asian session then returned almost all of its gains for the day in the London and New York sessions. What was that all about? Read more…

New Zealand Dollar (NZD)

NZD/USD might have closed only 2 pips down from its open price but that doesn’t mean that it didn’t see any action! The pair rose to a resistance near .8450 before profit-taking erased most of its intraday gains. Read more…

Swiss Franc (CHF)

Positive economic reports? No thanks. Though no reports were printed from Switzerland, the franc managed to score pips against the dollar and the euro. USD/CHF plunged by 43 pips while EUR/CHF suffered a 24-pip drop. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!