Daily Forex Fundamentals – March 19, 2012

What’s on the Economic Horizon

RBA Minutes Due Early Tomorrow
Canadian Wholesale Sales on Tap

U.S. Dollar (USD)

That wasn’t exactly how the dollar wanted to cap the week! With risk appetite in full swing, the scrilla took an old school, back-alley beating. EUR/USD rose nearly 100 pips to finish at 1.3175, while AUD/USD gained 64 pips to end at 1.0590. Read more…

Euro (EUR)

The euro pulled off a last-minute hustle in Friday’s trading as it posted wins against most of its counterparts. EUR/USD bounced from support at 1.3050 to end the day 95 pips above its opening price at 1.3175. Meanwhile, EUR/JPY closed at 109.94 after opening at 109.32. Read more…

British Pound (GBP)

Now that’s what I call a bull run! Thanks to overall dollar weakness, pound bulls had a field day and pushed GBP/USD up 135 pips to 1.5845. Can they extend their rally with help from the many heavy reports coming from the U.K. this week? Read more…

Japanese Yen (JPY)

The yen was the sumo sized loser last week, as higher yielding currencies kept bumping it out of the trading ring. Can the yen make a comeback or is it in for more losses this week? Read more…

Canadian Dollar (CAD)

Whew! The Loonie managed to end the week with a win against the dollar by a hairsbreadth! USD/CAD settled 2 pips below the day’s opening price at .9917. That was close! Read more…

Australian Dollar (AUD)

Make that back-to-back for the Aussie! For the second day in a row, the Aussie bulls were out in full force, helping AUD/USD rise 64 pips to close at 1.0590. Read more…

New Zealand Dollar (NZD)

Keep those pips comin’! For the second straight day, the Kiwi had its way with the Greenback as it traded steadily up the charts. At the end of the day, NZD/USD finished 54 pips higher at .8246. Will it climb higher today? Read more…

Swiss Franc (CHF)

Y’all can’t keep a good currency down! For the second straight day, the Swissy racked up pips against its major counterparts. While USD/CHF fell 74 pips to land at .9156, EUR/CHF slipped 9 pips to 1.2064. 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!