Daily Forex Fundamentals – May 20, 2013

What’s on the Economic Horizon

France, Germany, Switzerland, and Canada on Bank Holidays Today
More Fed Members’ Speeches on Tap
Comdolls Plunged Deeper Against USD

U.S. Dollar (USD)

Not so fast! Just when we thought that the dollar’s rally is about to end, Greenback buyers jumped in and pushed the currency to notable highs against its counterparts. So what exactly extended the dollar frenzy? Read more…

Euro (EUR)

With the euro region out of the spotlight, it was easy for the common currency to snatch some pips on its counterparts. EUR/USD bowed to dollar strength, but EUR/JPY, EUR/GBP, and even EUR/CHF showed gains. What’s up with that? Read more…

British Pound (GBP)

The pound eventually gave in to dollar strength on Friday, as GBP/USD tumbled from the 1.5300 area to end the week at 1.5168. GBP/JPY also ended the week in the red as it closed 11 pips below the 156.00 handle. Read more…

Japanese Yen (JPY)

Traders showed no love for the yen on Friday, allowing several yen pairs to make new highs. USD/JPY finally broke above the 103.00 major psychological resistance while EUR/JPY jumped above 132.00. Will the yen selloff continue this week? Read more…

Canadian Dollar (CAD)

Higher oil prices? So what?! Loonie traders shrugged off a slight recovery in oil prices when Canada printed a softer-than-expected inflation report. USD/CAD shot up by a whopping 99 pips and ended the week right around its 2013 highs. Read more…

Australian Dollar (AUD)

When will the bleeding stop?? The Aussie gave up more ground to the dollar in Friday’s trading. AUD/USD dropped like its hot below .9800 finishing the day with an 83-pip loss at .9724. Read more…

New Zealand Dollar (NZD)

NZD/USD tossed and turned around on Friday, as the pair struggled to hold on to the .8100 major psychological support level. It managed to end the day in the green as it closed at .8106. Will it break below .8100 soon? Read more…

Swiss Franc (CHF)

After dipping below the .9600 major psychological level on Thursday, USD/CHF made a strong comeback the very next day as it bounced back above the .9700 level and ended the week at .9706. Can this pair head any higher this week? 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!