Daily Forex Fundamentals – July 25, 2013

What’s on the Economic Horizon

German Ifo business climate index to climb to 106.3?
Potential upside surprise in U.K. preliminary GDP
U.S. durable goods orders data on tap

U.S. Dollar (USD)

USA! USA! USA! The markets cheered for the American currency yesterday as it racked up win after win against its major counterparts. Is this the comeback we’ve been waiting for? Read more…

Euro (EUR)

It was quite a good run but all good things come to an end, don’t they? EUR/USD ended its four-day winning streak as it closed in the red yesterday. Was this just a retracement though? Read more…

British Pound (GBP)

And that ends the pound’s reign as king of the charts! For the first time in a week, GBP/USD closed lower, as it finished 70 pips lower at 1.5309. Will yesterday prove to be the turning point for Cable or is this merely a breather for the bulls? Read more…

Japanese Yen (JPY)

The ball was in the court of yen sellers yesterday, as the safe haven currency got no love from the markets. It sold off against the dollar and the euro, chalking up an 83-pip loss against the Greenback while losing 85 pips to the shared currency. Read more…

Canadian Dollar (CAD)

Just when it seemed the Loonie was poised for more gains, it fell victim to Greenback strength during the U.S. session. USD/CAD dipped to a low of 1.0263 before popping back above the 1.0300 handle. What’s in store for the Loonie today? Read more…

Australian Dollar (AUD)

Abandon ship! The Aussie sank like a rock yesterday as disappointing manufacturing data from China led to decreased demand for the high-yielding currency. AUD/USD tapped a high of .9318 before it descended to .9160, marking a 133-pip loss on the day. Read more…

New Zealand Dollar (NZD)

Just like the rest of the comdolls, the Kiwi took a plunge in yesterday’s trading, as NZD/USD dropped to .9159, a solid 144 pips below its opening price. Yikes! Read more…

Swiss Franc (CHF)

The franc gave back some of its gains from earlier this week yesterday, as USD/CHF finished 29 pips higher at .9377. 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!