Daily Forex Fundamentals – June 20, 2013

What’s on the Economic Horizon
Euro zone PMIs to show improvements?
U.S. initial jobless claims and existing home sales due
U.K. retail sales up by 0.8%?

U.S. Dollar (USD)

Wham, bam, thank you Mr. Bernanke, you’re the man! Thanks to some positive words by the Fed Chairman, the dollar soared up the charts and dominated the forex market. The question is, can the bulls keep this up? Read more…

Euro (EUR)

Just when it seemed like it was a quiet day for EUR/USD… BAM! Fed Chairman Bernanke made a big announcement during the FOMC statement and pushed the pair around 150 pips down. What happened? Read more…

British Pound (GBP)

Out of the way, pound bears coming through! In just two days, sellers managed to undo six days’ worth of gains on Cable as the pair followed up Tuesday’s drop with a massive 154-pip slide. What in the world happened?! Read more…

Japanese Yen (JPY)

Thanks to an intense rally in the dollar, USD/JPY soared up the charts and is now trading back above 96.50. The question is, is the yen rally finally over? Read more…

Canadian Dollar (CAD)

Topsy turvy day for the Loonie, as USD/CAD got pushed this way and that by central bank events. The pair crept from the 1.0240 area to a low of 1.0173 before jumping up to a high of 1.0287. What was that all about? Read more…

Australian Dollar (AUD)

Ka-chow! The Aussie got burned yesterday as it fell a solid 250 pips from its highs thanks to the FOMC statement. AUD/USD is currently trading below .9300, marking a new 2013 low! Read more…

New Zealand Dollar (NZD)

NZD/USD exploded to the downside as traders scurried to get their hands on more Greenbacks. Thanks to the late drop in the New York session, Kiwi sellers had a field day and NZD/USD finished 102 pips lower at .7889. Read more…

Swiss Franc (CHF)

Swissy sellers were in absolute control of the currency yesterday, as both USD/CHF and EUR/CHF ended the day higher. Against the dollar, it gave up 99 pips. Meanwhile, it lost 23 pips to the euro. 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!