Daily Forex Fundamentals – November 19, 2012

What’s on the Economic Horizon

U.S. Existing Home Sales Due Today
MPC Meeting Minutes to Show a 0-0-9 Voting Split
BOJ Widely Expected to Keep Rates Below 0.10%

U.S. Dollar (USD)

The Greenback sure knows how to mix things up, doesn’t it? After last Friday’s trading, the U.S. currency closed higher against the euro, franc, and yen but posted losses against the pound and Kiwi. Will it be able to find a clearer direction today? Read more…

Euro (EUR)

Ka-blam! When news of the euro zone being officially in a recession hit the newswires, the euro promptly got punished. It lost 46 pips against the dollar, 36 pips against the yen, and 43 pips against the pound. Yeouch! Read more…

British Pound (GBP)

Consolidation was the name of the game for Cable last Friday as it simply moved within a horizontal channel. The pair started the day at 1.5851, rose to an intraday high at 1.5895, fell to 1.5835, and then closed the U.S. trading session at 1.5883. Read more…

Japanese Yen (JPY)

It wasn’t exactly the best way to end the week for the yen as it lost ground to most of its major counterparts last Friday. The yen was able to score some gains against the euro though, as EUR/JPY closed 36 pips down from its 103.73 open price. What’s in store for the Japanese currency today? Read more…

Canadian Dollar (CAD)

Thanks to positive data and optimism in the U.S. session, USD/CAD ended the day in the green against the dollar. The pair spiked to an intraday high of 1.0016 before it capped the day 8 pips lower than its open price. Score another one for the comdoll! Read more…

Australian Dollar (AUD)

After bouncing off support at 1.0300 last Friday and closing at 1.0334, AUD/USD gapped up over the weekend and opened at 1.0341. What boosted the Aussie and will it be able to keep rallying this week? Read more…

New Zealand Dollar (NZD)

The New Zealand dollar just found itself chilling across the board last Friday as it simply held its ground. NZD/USD, for instance, moved sideways the entire day, closing the day barely changed from its opening price during the Asian trading session. It began at .8094 and closed at .8102. Read more…

Swiss Franc (CHF)

The Swiss franc received a big fat “F” for its performance last Friday as it was unable to hold its ground versus the safe haven U.S. dollar. USD/CHF, which began the day at .9429, closed the U.S. trading session higher at .9464. 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!