Daily Forex Fundamentals – March 26, 2013

What’s on the Economic Horizon

U.S. Durable Goods on Tap
Cyprus Deal Not Enough to Boost Sentiment
Repatriation Flows Spur Yen

U.S. Dollar (USD)

Mixed day for the scrilla, as it sliced and diced its way against the euro but failed to gain any momentum against the comdolls. With some hot reports headed our way during the New York session, what could be in store for the dollar today? Read more…

Euro (EUR)

Talk about crash and burn! The euro got heavily sold off during the latter part of yesterday’s trading. EUR/USD dropped like a rock from its intraday high of 1.3050 to 1.2830 before closing with a 96-pip loss at 1.2853. Meanwhile, EUR/JPY suffered a 133-pip loss for the day. Read more…

British Pound (GBP)

Cable’s rally lost a lot of steam yesterday, as optimism regarding latest deal in Cyprus was considered as a dangerous precedent for the euro zone by market participants. From its day open price at 1.5227, Cable had plunged as low as 1.5143, before it closed the U.S. trading session at 1.5181. Read more…

Japanese Yen (JPY)

What a start for the yen! The yen blew out the competition, as it posted gains across the board. What caused the yen’s rally yesterday?! Read more…

Canadian Dollar (CAD)

Risk aversion? Baby, please! It got nothing on the Loonie. Well, at least not in yesterday’s trading. The comdoll finished the day with another win as USD/CAD closed 22 pips below its opening price at 1.0213. Read more…

Australian Dollar (AUD)

It was a good start to the week for the Aussie, as it slowly crawled up the chats. AUD/USD opened at 1.0439 and ended the day at 1.0463, marking a 24-pip gain on the day. Read more…

New Zealand Dollar (NZD)

Due to the absence of market-moving events in New Zealand, the Kiwi mainly moved sideways veruss the Greenback yesterday. The pair traded within a horizontal channel the entire day versus the Greenback, finding support at .8337 and resistance at .8372. Read more…

Swiss Franc (CHF)

After a spectacular performance last Friday, the Swiss franc turned sour yesterday and gave up all of its gains. USD/CHF closed the day at .9486, 56 pips higher from its Asian session opening price. 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!

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