Daily Forex Fundamentals – November 22, 2012

What’s on the Economic Horizon

U.S. Traders Celebrate Thanksgiving Day
Canada’s Retail Sales Data Due Today

U.S. Dollar (USD)

Ka-blam! Except for the yen, the major currencies slammed the Greenback down the charts yesterday. EUR/USD blasted above its 1.2800 resistance while USD/CHF fell from an intraday high of .9459 and closed at .9389. Ouch! What the heck happened? Read more…

Euro (EUR)

It’s in the green, folks! After ending the previous day in a stalemate against the Greenback, the euro was able to push for some gains yesterday, with EUR/USD closing at 1.2824. EUR/JPY was able to extend its winning streak to 3 days as it ended the day at 105.79. Read more…

British Pound (GBP)

And the pips just keep coming! For the fourth day in a row, the pound had its way with the dollar, as GBP/USD rose 33 pips to end at 1.5949. Can it keep its streak intact? Read more…

Japanese Yen (JPY)

Yowza! The yen continued its losing streak yesterday as Japan printed weak economic reports. USD/JPY shot up by 78 pips while EUR/JPY enjoyed a nice 114-pip rally. Is the yen starting to trade on fundamentals? Read more…

Canadian Dollar (CAD)

Way to go, Loonie! The Canadian currency was able to snag some gains against the Greenback yesterday, allowing USD/CAD to close at .9966. Will the Loonie be able to hold on to its recent winnings? Read more…

Australian Dollar (AUD)

Down for another day! With no major economic data coming out from Australia, the Aussie bulls and bears concentrated on risk sentiment. AUD/USD ended the day 7 pips lower than its open price after spiking in both directions. Read more…

New Zealand Dollar (NZD)

The Kiwi was one of the few currencies that was on the wrong end of the pip-parade yesterday, as NZD/USD slipped 17 pips to .8138. Let’s see if it’ll hop on over to the winning side today! Read more…

Swiss Franc (CHF)

Now that’s what I call a comeback victory! The Swissy looked as though it was gonna end the day with a huge loss against the dollar, as USD/CHF climbed to as high as .9459 in the Tokyo session. But once the London session kicked in, sellers took control and dragged the pair all the way down to .9389! 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!