Daily Forex Fundamentals – January 24, 2013

What’s on the Economic Horizon
Euro zone PMIs on Tap Today
Weekly Jobless Claims Seen to Tick Higher

U.S. Dollar (USD)

What a crazy day for the scrilla yesterday, as it was simply all over the dance floor! The dollar consolidated against the euro, managed to edge higher verus the Loonie, but lost out against the Kiwi. Read more…

Euro (EUR)

It’s a stalemate, ladies and gents! After a few moves here and there, EUR/USD ended the day right where it started. The pair dipped a bit below the 1.3300 handle to a low of 1.3298 but the psychological support level still managed to hold. Will this still be the case today? Read more…

British Pound (GBP)

For the third day in a row, Cable traders took a chill pill as the pair continued trading sideways. It found support at Monday’s low and resistance at Monday’s high before it settled just 5 pips below its opening price at 1.5841. Will it finally break out of consolidation today? Read more…

Japanese Yen (JPY)

Looks like we’re in for a major battle on the yen pairs! After two days of bloodbath, both EUR/JPY and USD/JPY have formed dojis on their daily charts, indicating that the bulls and bears are going at it. Who will emerge victorious and who will suffer a painful death? Read more…

Canadian Dollar (CAD)

Surprise, surprise! BOC Governor Carney’s less-hawkish-than-usual comments during the central bank’s monetary policy statement triggered an upside breakout for USD/CAD, pushing the pair to the 1.0000 area. What exactly did Carney say? Read more…

Australian Dollar (AUD)

The Aussie bulls couldn’t sustain their momentum from the day before and ended up giving back some of their gains away yesterday, with AUD/USD closing 17 pips lower at 1.0550. What could be in store for us today? Read more…

New Zealand Dollar (NZD)

It may not have been a big victory, but hey, a win is a win! The Kiwi managed to follow up Tuesday’s awesome performance with more gains as it locked in 6 pips against the Greenback. Will NZD/USD extend its rally and test resistance at .8450? Read more…

Swiss Franc (CHF)

Can you say BORING? After an entire day of trading, USD/CHF finished just 4 pips above its opening price while EUR/CHF ended just 6 pips higher. Let’s see if the Swiss franc will come to life today! Read more…

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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!