Daily Forex Fundamentals – March 15, 2013

What’s on the Economic Horizon

Euro zone CPI seen at 1.8%
More U.S. data coming our way

U.S. Dollar (USD)

Woah, what a selloff! The U.S. dollar lost ground to its major counterparts during the U.S. session as risk sentiment seemed to make a comeback in the markets. EUR/USD rallied back to the 1.3000 major psychological resistance while GBP/USD reached the 1.5100 area. Was all that just a short squeeze? Read more…

Euro (EUR)

Now that’s what I call a comeback! After getting sold off for a bit during the London session, the euro managed to step up its game when the New York markets opened. EUR/USD bounced off its intraday low at 1.2911 to finish the day 48 pips above its opening price at 1.3006. Meanwhile, EUR/JPY was up 55 pips pips at 124.98 by the day’s close. Read more…

British Pound (GBP)

Look who has come back from the dead! The pound posted its biggest one-day gain in seven months as it clawed its way back against the dollar to finally end its long losing streak. GBP/USD surged 159 pips to end the day at 1.5083. Read more…

Japanese Yen (JPY)

USD/JPY may have exhibited a lot of volatility yesterday, but the pair still generally traded sideways. The pair started the Asian trading session at 96.03, made an intraday low at 95.68, soared to 96.60, and then closed the day barely changed at 96.09. Read more…

Canadian Dollar (CAD)

Way to go, Loonie! USD/CAD was finally able to close below 1.0250, a level which it has gotten rejected off a few times. By the day’s close, the pair was down 49 pips below its opening price at 1.0224. Read more…

Australian Dollar (AUD)

Ah, there’s nothing like good data to get the Aussie surfin’ up the charts! Following the incredibly amazing jobs report for February, AUD/USD rose more than a hundred pips from its opening price of 1.0309. By the of the day, the pair was trading 69 pips higher at 1.0378. Read more…

New Zealand Dollar (NZD)

Down she goes again! For the second time this week, NZD/USD posted a red candlestick on the daily chart as the Kiwi lost another 47 pips to the Greenback. At the end of the day, the pair finished at .8221 after falling to as low as .8162. Read more…

Swiss Franc (CHF)

The SNB monetary policy assessment sparked fireworks in the markets as USD/CHF completely erased Wednesday’s gains by posting a 59-pip loss and ending at .9468. Meanwhile, EUR/CHF traded 30 pips lower to end the day at 1.2314. 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!