Daily Forex Fundamentals – February 18, 2013

What’s on the Economic Horizon

ECB Mario Draghi set to testify
Japan monetary policy meeting minutes on tap
U.S. celebrates Presidents’ Day

U.S. Dollar (USD)

The dollar had its way with the yen and the comdolls last Friday, but it just couldn’t bully around the European currencies. Which way will it go this week? Read more…

Euro (EUR)

With no major data coming out, the euro traded to the beat of other currencies last Friday. EUR/USD stayed within range and closed at 1.3354, up 17 pips from its opening price. Meanwhile, after hitting an intraday low at 122.90, EUR/JPY shot up late in the day to finish at 124.75, marking a 60-pip gain on the day. Read more…

British Pound (GBP)

Looks like those pound bears are eager to pounce! GBP/USD gapped down over the weekend and opened at 1.5505 after closing at 1.5514 last week. Does this mean the pound will keep trading lower this week? Read more…

Japanese Yen (JPY)

The yen sure is off to a weak start this week! After ending Friday 41 pips higher, USD/JPY gapped up another 24 pips over the weekend. Will the markets continue to dump the Japanese currency? Read more…

Canadian Dollar (CAD)

And just like that, the Loonie lost all its gains! After three consecutive days of wins versus the Greenback, the Canadian dollar took a beating on Friday, as USD/CAD closed at 1.0072, up 59 pips from its opening price. Read more…

Australian Dollar (AUD)

Score one for the bears! AUD/USD took a sharp tumble to end the week as the pair finished 59 pips lower at 1.0292. What the heck happened? Read more…

New Zealand Dollar (NZD)

Boo yah! After breaking above the .8500 mark the other day, NZD/USD made a complete turnaround and slid all the way down to the .8450 area on Friday. Did the pair just fake out or are we merely seeing a retracement for today? Read more…

Swiss Franc (CHF)

USD/CHF may have gapped higher over the weekend but the pair is still stuck in consolidation around the .9225 area. Will we see a breakout any time this week? And which way can it go? 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!