Daily Forex Fundamentals – June 24, 2013

What’s on the Economic Horizon?

The Greenback Gains Across the Board for Another Day
German Ifo Business Climate Due Today

U.S. Dollar (USD)

The dollar just kept on swimming up the charts like Michael Phelps! USD/JPY bounced off 97.00 and finished the week only a few pips shy of 98.00. Meanwhile, EUR/USD was down 90 pips for the day at 1.3125. Read more…

Euro (EUR)

The euro lost to its major counterparts for a second day in a row as concerns for political and economic stability in the euro zone gripped the markets. EUR/USD, EUR/GBP, and EUR/JPY all closed below their open prices with EUR/USD dropping as far as 85 pips. Read more…

British Pound (GBP)

Goodness me! There’s just no stopping the bloodbath, is there? GBP/USD crashed below the 1.5400 major psychological level last week, as it dipped to a low of 1.5377 before closing at 1.5387. Will Cable be able to recover today? Read more…

Japanese Yen (JPY)

Once again, the yen was no match to the dollar in Friday’s trading. USD/JPY finished higher at 97.76 after opening at 97.43. Meanwhile, against the euro, it was able to snag a win when EUR/JPY closed lower at 128.31 from 128.76. Read more…

Canadian Dollar (CAD)

The Loonie bulls received another shock for the week and this time the Fed had nothing to do with it. Thanks to surprisingly weak Canadian reports, USD/CAD finished the day 83 pips higher than its open price. Yeouch! Read more…

Australian Dollar (AUD)

Yowza! After five days of consecutive losses, the Aussie finally managed to take a breather in Friday’s trading. AUD/USD closed higher at .9235 from its opening price of .9197. Read more…

New Zealand Dollar (NZD)

Ooh, that’s gotta hurt! The Kiwi got beaten up by the U.S. dollar again, as NZD/USD slipped way below the .7800 handle on Friday. NZD/USD dipped to the .7700 mark before ending the week at .7764. Read more…

Swiss Franc (CHF)

Daniel Powter’s “Bad Day” must be on loop for the Swissy, as the currency chalked up another day in losses against the Greenback. USD/CHF jumped above the .9300 major psychological resistance and ended the week at .9368. 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!