Daily Forex Fundamentals – May 14, 2013

What’s on the Economic Horizon

German ZEW Economic Expectations Report on Tap
U.S. Retail Sales Top Expectations
New Zealand Consumer Spending Falls Short of Forecasts

U.S. Dollar (USD)

The dollar’s performance was as mixed as a bag of M&Ms as it printed gains against the comdolls and the pound but ended the day almost unchanged against the euro and the yen. What the heck happened to the Greenback rally?! Read more…

Euro (EUR)

Doji alert! The euro managed to hold its ground against the dollar in yesterday’s trading. EUR/USD found support just above the 1.2950 minor psychological handle all throughout the day before closing with a 2-pip gain at 1.2969. Meanwhile, against the yen, it scored a 4-pip win win EUR/JPY finished at 132.11. Read more…

British Pound (GBP)

The bleeding continues! For the third consecutive day, GBP/USD closed lower, as it finished at 1.5297, down 59 pips from its opening price. Now that the pair is trading below the support line of the rising channel, could the pound be headed for more losses? Read more…

Japanese Yen (JPY)

The yen bears were chillin’ ice cream filling yesterday as they watched the yen pause from its Monday selloff. After reaching new intraweek lows, some yen traders thought it prudent to take profits. This is probably why USD/JPY and EUR/JPY capped the day near their open prices. Read more…

Canadian Dollar (CAD)

Yeehaw! The Loonie has finally been able to bust a move on the charts! USD/CAD finished lower for the first time in two days yesterday. The pair was down 5 pips from its opening price to 1.0110. Read more…

Australian Dollar (AUD)

All major comdolls crashed and burned against the Greenback yesterday, but the Aussie ended up at the bottom of the dog pile. AUD/USD closed below parity for the first time since June 2012 after it reached an intraday low at .9940. What’s up in the Land Down Under anyway? Read more…

New Zealand Dollar (NZD)

And the losing continues! For the sixth consecutive trading day, NZD/USD finished in the red, as the pair dropped 29 pips to end the day at .8246. When will the bleeding stop?! Read more…

Swiss Franc (CHF)

Not even poor retail sales figures could keep the Swissy selling going! After back-to-back days of serious losses, the franc made a mild recovery to start the week, as USD/CHF traded as low as .9546 before finishing at .9578, 14 pips below its opening price. Read more…

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!