Daily Forex Fundamentals – July 22, 2013

What’s on the Economic Horizon

Shinzo Abe’s LDP Gains Decisive Lead in Japan’s Elections
U.S. Existing Home Sales Due Today

U.S. Dollar (USD)

OUCH! The dollar got kicked to the curbed in Friday’s trading. Without any economic data on tap, it finished lower against ALL of its counterparts. What the heck happened? Read more…

Euro (EUR)

Euro traders were in no mood for news trading last Friday, so it’s not surprising that the common currency had mixed performances against its counterparts. It gained pips on the Greenback and the yen, but lost a couple to the pound and the franc. Read more…

British Pound (GBP)

Mark another one down for the pound! The British currency ended the week on a high note as Cable marched higher for the fourth straight day. The pair traded as low as 1.5196 before it staged a solid rally to 1.5274, marking a 50-pip win on the day. Read more…

Japanese Yen (JPY)

The yen’s scorecard was as mixed as a glass of Long Island Iced Tea in Friday’s trading. While USD/JPY finished the day 11 pips below its opening price at 100.35, GBP/JPY was up 25 pips at 153.28 by the end of the day’s trading. Read more…

Canadian Dollar (CAD)

It’s a tough battle between the bulls and bears at USD/CAD’s 100-pip range as the Loonie bulls found a way to hold the resistance at 1.0450. Read more…

Australian Dollar (AUD)

Just like peanut butter and jelly and waffles and whipped cream, there’s no denying that risk appetite and the Aussie are a good combo. The comdoll’s price action last Friday is proof to this. AUD/USD finished the day higher at .9190 after starting the day at .9172 as investors sought higher-yielding assets. Read more…

New Zealand Dollar (NZD)

NZD/USD was invited to the bulls’ street party last Friday as the pair shot up the charts despite the lack of any major report. It even tipped to an intraday high of 0.7991 before it settled 43 pips higher than its open price! Read more…

Swiss Franc (CHF)

The franc flexed its muscles like a boss against the dollar in Friday’s trading. USD/CHF traded lower, bouncing off resistance at the .9450 minor psychological handle, to finish the day 42 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!