Daily Forex Fundamentals – November 18, 2011

What’s on the Economic Horizon

U.S. prints better-than-expected economic reports
France and Spain paid higher yields on its latest bond auctions
Canada to release CPI report

U.S. Dollar (USD)

The dollar was chillin’ like ice cream fillin’ yesterday as traders priced in concerns in the euro zone and positive economic reports from the U.S. EUR/USD only dipped by 10 pips to 1.3466, while USD/JPY slipped by a mere Read more…

Euro (EUR)

EUR/USD must have gotten exhausted from all that diving as it decided to cruise sideways yesterday. The pair found support at the 1.3450 area and resistance near 1.3530. EUR/JPY also Read more…

British Pound (GBP)

The pound gave traders a wild ride yesterday as it dipped and swerved like a buckin’ bronco. After GBP/USD tapped 1.5700 early in the day, it rose choppily to the 1.5800 handle, eventually settling at Read more…

Japanese Yen (JPY)

With barely economic report coming out of Japan, the yen traded on risk appetite in the markets. As usual, the low-yielding yen gained against most of its high-yielding counterparts with USD/JPY dipping by Read more…

Canadian Dollar (CAD)

Make that four in a row! The Loonie chalked up another day of losses against the Greenback as USD/CAD closed 53 pips up from its 1.0231 open price. Will the Canadian dollar be able to Read more…

Australian Dollar (AUD)

With the lack of economic reports from the Land Down Under, the Aussie traded on risk appetite yesterday. AUD/USD fell for the fourth day in a row and ended up closing below parity at Read more…

New Zealand Dollar (NZD)

Ooooh… That’s gotta hurt! For the fourth day in a row, the New Zealand dollar got the short end of the stick in its battle against the Greenback. With risk aversion still in play, NZD/USD Read more…

Swiss Franc (CHF)

There goes Wednesday’s gains! The Swiss franc gave up ground against its major counterparts yesterday as weak economic data dragged it down. When all was said and done, USD/CHF closed 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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