Daily Forex Fundamentals – August 27, 2012

What’s on the Economic Horizon

U.K. on a Summer Bank Holiday
German IfO Business Climate due today

U.S. Dollar (USD)

Finally! After giving up pips to its counterparts one day after another, the dollar managed to pare some of its losses on Friday. EUR/USD closed the week at 1.2512, 50 pips below Friday’s opening price. Meanwhile, GBP/USD was down 56 pips for the day at 1.5804. Read more…

Euro (EUR)

Oh snap, did the euro just break its winning streak against the Greenback? While the common currency barely moved against the pound and the yen, EUR/USD finished the day 50 pips lower than its open price. What gives? Read more…

British Pound (GBP)

After its impressive performance during the first half of the week, Cable fell considerably short last Friday. From its day open price at 1.5860, it fell 56 pips lower to end the U.S. trading session at 1.5805. What caused the decline? Read more…

Japanese Yen (JPY)

USD/JPY was finally able to recover last Friday after it had lost for 4 consecutive days. The pair closed at 78.70, 25 pips higher from where it had begun the day. Is a bullish reversal in the works? Read more…

Canadian Dollar (CAD)

The Loonie bulls were able to breathe a collective sigh of relief last Friday as USD/CAD ended its 3-day winning streak by stepping back by 20 pips to .9916. No report came out from Canada, so what influenced the Loonie lovin’? Read more…

Australian Dollar (AUD)

Despite an upbeat speech from the RBA head honcho, the Aussie still scored its second straight loss to the dollar on Friday. AUD/USD closed the day at 1.0406 after starting the day at 1.0439. Read more…

New Zealand Dollar (NZD)

Despite the better-than-expected trade balance, the high-yielding Kiwi was unable to continue its rally last Friday. In fact, the Kiwi was sold-off, closing the day 19 pips lower from its opening price. Read more…

Swiss Franc (CHF)

On Friday, the Swiss franc lost all of the pips it gained on Thursday faster than an avalanche in the Swiss alps. USD/CHF traded higher immediately after opening at .9561. By the New York session close, the pair was up 36 pips above its starting price. 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!

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