Daily Forex Fundamentals – July 12, 2013

What’s on the Economic Horizon
U.S. PPI and Consumer Sentiment Data Due
Australia Prints Weak Home Loans Data

U.S. Dollar (USD)

The dollar fell deep into the bears’ lair yesterday as EUR/USD popped up by a ridiculous 219 pips on the same day that GBP/USD registered a 276-pip gain and USD/CHF fell by 199 pips. What gives?! Read more…

Euro (EUR)

Down but not out! After recently reaching the 1.3200 level, EUR/USD edged down slowly in yesterday’s trading but managed to keep its head above the 1.3000 major psychological support. EUR/JPY moved mostly sideways, as it struggled to stay on top of the 129.00 level. Read more…

British Pound (GBP)

What a day for the pound! Riding the wave of dollar throughout the day, GBP/USD rose an astounding 275 pips to finish the day a shade below the 1.5200 handle. Can the pound bulls continue their good fortune today? Read more…

Japanese Yen (JPY)

The yen’s price action was as mixed as piña colada yesterday after the BOJ printed its latest meeting minutes. USD/JPY ended up 129 pips south of its open price while GBP/JPY finished the day with an 80-pip gain. Read more…

Canadian Dollar (CAD)

Is the Loonie back to its ranges? USD/CAD cruised across the charts in yesterday’s trading, as it found support around the 1.0350 area. Let’s take a look at the upcoming events to see if this pair has a chance at breaking out today! Read more…

Australian Dollar (AUD)

The Aussie got caught up in the market waves yesterday as it lost some of its post-FOMC minutes gains against the Greenback. The pair tipped an intraday high of .9307 but finished the day just below the .9200 handle. Read more…

New Zealand Dollar (NZD)

What comes up must go down! After surging to as high as .7969 earlier in the day, NZD/USD came crashing down during the latter sessions, eventually closing at .7836. Still, this was enough to mark a 38-pip victory on the day. Read more…

Swiss Franc (CHF)

Ka-chow! The Swiss franc took advantage of overall dollar weakness, as it simply trampled all over Uncle Sam’s home currency. USD/CHF dropped 219 pips to finish the day at .9460, its lowest level since early last week. 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!