Daily Forex Fundamentals – July 15, 2013

What’s on the Economic Horizon?

China Prints 7.5% GDP Growth for Q2 2013
U.S. Retail Sales on Tap

U.S. Dollar (USD)

After two days of getting pummeled on the charts, the dollar clawed its way back into green territory and ended last Friday with small gains against its major counterparts. While EUR/USD lost 34 pips to finish below the 1.3100 handle, USD/JPY recorded a 45-pip gain and ended above 99.00. Read more…

Euro (EUR)

The euro bulls and bears were all over the charts last Friday as they dragged the common currency lower against the dollar and the franc but higher against the pound and the yen. Read more…

British Pound (GBP)

All good things come to an end. After a very strong performance on Thursday, Cable suddenly faltered and gave up a lot of ground on Friday. The pair was sold heavily throughout the day, ending the U.S. trading session almost 100 pips lower from its opening price. Read more…

Japanese Yen (JPY)

The Japanese currency ended the week with losses against the euro and the dollar. Traders took EUR/JPY 27 pips higher and forced the pair to finish at 129.84, while USD/JPY gained 45 pips to end at 99.35. What’s up with that? Read more…

Canadian Dollar (CAD)

After a brutal Thursday for USD/CAD, the Loonie bulls took a breather and let the pair tick 10 pips higher than its open price. Did economic reports have anything to do with USD/CAD’s price action? Read more…

Australian Dollar (AUD)

Whoa! It looks like our homies aren’t done selling Aussie dollars yet! The comdoll ended the week on a low note as it finished sharply lower against the Greenback. After opening at .9180, AUD/USD tumbled to as low as .8999 before settling at .9061. And the sell-off may just continue today! Read more…

New Zealand Dollar (NZD)

The Kiwi seems to be in the middle of a wild see saw ride. It started the week on a positive note, gaining significantly versus the Greenback. On Wednesday, however, the Kiwi sold-off and gave up most of its gains. Read more…

Swiss Franc (CHF)

USD/CHF traded in an almost perfect reverse “U” pattern last Friday as it gained heavily during the Asian session but faltered and returned to where it had begun during the U.S. trading session. 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!