Daily Forex Fundamentals – February 25, 2013

What’s on the Economic Horizon?

All eyes on Italian parliamentary election
Ben Bernanke set to testify this week

U.S. Dollar (USD)

After enjoying wild moves over the past few days, the markets took a breather and slowed things down to end the week. EUR/USD and USD/JPY hardly budged from their opening prices, as the dollar lost 10 pips against the euro and gained 30 pips against the yen. Will it shake things up again this week? Read more…

Euro (EUR)

Thanks to some good economic data, the euro was able to avoid another day in the red. EUR/USD stayed in consolidation and eventually ended the day at 1.3179, up 9 pips from its opening price. Read more…

British Pound (GBP)

Ugh, so much for a comeback! The pound was unable to extend its rally against the dollar on Friday as it finished the day unchanged at 1.5241. Read more…

Japanese Yen (JPY)

Yen crosses didn’t move much last Friday, but boy did they come to life over the weekend! What caused these pairs to surge up the charts?? Read more…

Canadian Dollar (CAD)

Make that a clean sweep! The CAD bulls got creamed last week, as USD/CAD closed higher every single day! USD/CAD finished Friday at 1.0230, up 26 pips from its opening price. When will the bleeding stop?! Read more…

Australian Dollar (AUD)

Aussie bulls were in total control of AUD/USD from the minute the markets opened! With much help from RBA Governor Glenn Stevens, they took the pair from an opening price of 1.0234 straight up to 1.0321. Read more…

New Zealand Dollar (NZD)

Score one for the Kiwi! Despite the lack of economic reports from New Zealand, the comdoll still managed to finish the day in the green. NZD/USD was up 55 pips from its opening price at .8381 by the end of the New York session. Read more…

Swiss Franc (CHF)

The Swiss franc merely traded within its range against the dollar on Friday. Boring! USD/CHF bounced off support around Thursday’s low at .9290 and got rejected at resistance around .9330. By the end of the New York session, the pair settled at .9307, 12 pips below its opening 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!