Daily Forex Fundamentals – June 27, 2013

What’s on the Economic Horizon

U.S. Pending Home Sales on Tap
U.K. Current Account Due Today

U.S. Dollar (USD)

Talk about being confused! It seems as though the dollar didn’t know which way to go in yesterday’s trading, as it racked up pips against the euro, yen, pound, and Swissy, but weakened against the comdolls. Read more…

Euro (EUR)

Tough luck for the euro! Thanks to comments by ECB head honcho Draghi, the euro took a hit in yesterday’s trading matches. EUR/USD slipped past key support at 1.3050 and tested the big 1.3000 level. The question is, will it hold? Read more…

British Pound (GBP)

No thanks to the hawkish financial stability report from the Bank of England (BOE), Cable found itself significantly lower yesterday. The pair started the day at 1.5434 and trekked lower throughout the Asian, European, and U.S. trading sessions. By the end of the day, the pair was sitting 119 pips lower at 1.5315. Read more…

Japanese Yen (JPY)

We got a little bit of everything from the yen. It ended the day practically unchanged in its clash against the dollar, but it managed to chalk up solid wins against the pound and the euro. However, it didn’t have the same luck against the comdolls, who were able to end the day with a rare victory over the safe haven currency. Read more…

Canadian Dollar (CAD)

Quiet day for the Loonie, as it didn’t move too far off its opening price thanks to the lack of volatility in the markets. By the end of the day, USD/CAD was trading at 1.0479, 29 pips below its daily open. Read more…

Australian Dollar (AUD)

Well, well, well… Look who has come back from the dead! The Aussie gave a rare showing of strength yesterday as it ended stronger against both the dollar and the yen. What’s up with that?! Read more…

New Zealand Dollar (NZD)

NZD/USD finally broke out of its range yesterday, climbing as high as .7863 before encountering resistance. The pair ended the day at .7794, which was a respectable 53 pips higher from its opening price during the Asian session. Read more…

Swiss Franc (CHF)

For the second straight day, the Swiss franc suffered a bitter defeat versus the U.S. dollar. USD/CHF began the day at .9372 but closed notably higher at .9429. 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!