Daily Forex Fundamentals – June 26, 2013

What’s on the Economic Horizon?

GfK German consumer climate to tick higher
BOE financial stability report on tap
U.S. GDP expected to remain unchanged at 2.4%
New Zealand trade balance to show wider surplus

U.S. Dollar (USD)

Even though there were several red flags on the U.S. economic calendar yesterday, the Greenback was unable to choose a clear direction. The U.S. dollar index that reflects the currency’s strength against a basket of majors more or less moved sideways after opening the day at 82.89. It found support at 82.71 and resistance at 83.09. Read more…

Euro (EUR)

Looks like the day belonged to the bears again! While the euro didn’t move much on the day, it did finish weaker against its two major counterparts. EUR/USD slid to 1.3098 after opening at 1.3123, just as EUR/JPY slipped 8 pips to finish at 128.06. Read more…

British Pound (GBP)

Ho-hum. Thanks to a lack of market-moving data, the pound ended the day with mixed performances against its counterparts. GBP/USD and GBP/JPY ended the day almost near their open prices while EUR/GBP slipped by 11 pips. Read more…

Japanese Yen (JPY)

The Japanese yen traded in an almost perfect “V” pattern versus the U.S. dollar yesterday. USD/JPY started out at 97.66, fell to 97.00 during the London session, and then shot up to end the day 11 pips higher at 97.77 during the U.S. session. Read more…

Canadian Dollar (CAD)

Make that 8 straight, mate! The Loonie chalked up yet another day of losses as USD/CAD rose 22 pips to finish just above the 1.0500 handle. Will the bleeding ever stop?! Read more…

Australian Dollar (AUD)

If range trading is your thing, then you probably loved AUD/USD’s price action. AUD/USD simply moved within a 100-pip horizontal range yesterday as it found support at the .9200 major psychological level and resistance at .9300. The pair closed the day at .9267, which was merely 3 pips higher from its opening price during the Asian trading session. Read more…

New Zealand Dollar (NZD)

The Kiwi bulls and bears played a fierce battle of tug-o-pips yesterday as mixed market sentiment promoted indecisive moves across the markets. NZD/USD ended up closing 15 pips lower than its open price after hitting a high of .7797 and a low of .7697. Read more…

Swiss Franc (CHF)

The franc got the short end of the stick against the Greenback and the euro in yesterday’s trading. USD/CHF jumped by 41 pips while EUR/CHF also inched 31 pips higher. Read more…

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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!