Daily Forex Fundamentals – March 29, 2012

What’s on the Economic Horizon

U.S. Final Q4 2011 GDP On Tap!
Japan’s Retail Sales Top Expectations
U.K. Nationwide HPI to Boost the Pound?

U.S. Dollar (USD)

Is the dollar losing its mojo? EUR/USD and USD/CHF ended yesterday’s trading almost unchanged from their opening prices. Meanwhile, USD/JPY was down 33 pips for the day. Read more…

Euro (EUR)

EUR/USD went on a wild see-saw ride yesterday. During the Asian session, the pair rallied strongly as a result of the leftover dollar weakness from the previous day. However, the move proved to be unsustainable and the pair quickly dropped like a rock once the European trading session began. EUR/USD, at the end of the day, was trading at 1.3320, just a pip lower from its opening price. Read more…

British Pound (GBP)

Blimey, did I just see the pound fall? The pound took hits against its counterparts yesterday on risk aversion and poor economic data from the U.K. Cable capped the day with a 63-pip loss at 1.5891, while Guppy also 103-pip hit at 131.61. Read more…

Japanese Yen (JPY)

Aaah, there’s nothin’ like risk aversion to get the yen’s inner sumo wrestler on. The Asian currency strengthened against all of its major counterparts, gaining 33 pips from the dollar, 44 pips from the euro, and 96 pips from the pound. Read more…

Canadian Dollar (CAD)

The Loonie found itself holding on to the short end of the stick yesterday as it fell against other major currencies. Against the safe haven Greenback, for instance, the Loonie posted a 31 pip loss. Read more…

Australian Dollar (AUD)

For a second trading day in a row, the Aussie headed down under the charts. AUD/USD opened at 1.0466 and traded all the way down to 1.0356 before ending the day at 1.0396. Read more…

New Zealand Dollar (NZD)

Watch out, we’re seeing risk aversion over here! With no economic data coming out of New Zealand, NZD/USD traded on risk sentiment in markets. The pair dropped by 57 pips to .8150 before it leveled off to close at .8175. Read more…

Swiss Franc (CHF)

Did I just land on Dojiville? Oh wait, those are just the franc’s charts. With no economic report out from Switzerland yesterday, the franc bulls and bears barely had anything to trade with. Both USD/CHF and EUR/CHF ended the day with dojis! 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!