Daily Forex Fundamentals – July 9, 2013

What’s on the Economic Horizon
U.K. manufacturing to rebound?
ECOFIN meetings taking place today

U.S. Dollar (USD)

The dollar bulls took a chill pill yesterday as the Greenback pared back some of its gains against its counterparts. EUR/USD ended up with a 59-pip uptick while USD/JPY also slipped by 14 pips. What’s up with that?! Read more…

Euro (EUR)

What a relief! The euro was able to avoid another day of losses against the Greenback, as EUR/USD kept its head above the 1.2800 handle and even climbed to a high of 1.2880. EUR/JPY moved mostly sideways when it found support around 129.50 and resistance near 130.00. Read more…

British Pound (GBP)

It was a slow crawl but hey, a win’s a win! GBP/USD slowly crept up the charts, finally ending the day around 1.4950, up nearly 100 pips from the day’s lows. Read more…

Japanese Yen (JPY)

Thanks to a slight improvement in risk appetite, many of the yen pairs ended the day in the green. USD/JPY was an exception though, as it slid by 14 pips by the end of the day. Did the yen’s action have anything to do with Japan’s economic reports? Read more…

Canadian Dollar (CAD)

Consolidation is the name of the game! USD/CAD was stuck in its recent range, as the pair found support at the 1.0550 area and resistance close to 1.0600. Can it break out today? Read more…

Australian Dollar (AUD)

Guess who’s back? No, it’s not Slim Shady. It’s the Aussie bulls, yo! Thanks to a pickup in risk appetite and some slightly better-than-expected data, AUD/USD was able to avoid more losses yesterday. The pair even reached a high of .9146 before it settled 80 pips higher than its open price. Booyah! Read more…

New Zealand Dollar (NZD)

The Kiwi was one of the bigger winners yesterday, as risk appetite helped push NZD/USD back up from its lows. The pair rose a solid 100 pips to bounce off the .7700 handle and nearly finish at .7800. The question is, can risk appetite prevail? Read more…

Swiss Franc (CHF)

With no biggies on tap, USD/CHF trading pretty much stuck within its average daily trading range, as it finished around .9634, down just a few pips from 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!