Daily Forex Fundamentals – September 17, 2013

What’s on the Economic Horizon

U.K. inflation reports due today
German ZEW figure to show improvement?
Canadian manufacturing sales expected to rebound

U.S. Dollar (USD)

Down for another day! The Greenback posted more losses against its counterparts yesterday as traders sold the dollar ahead of the FOMC statement. So what exactly happened during the U.S. session that prompted big retracements on EUR/USD, GBP/USD and even USD/CHF?! Read more…

Euro (EUR)

That 1.3400 mark must’ve been too hot to handle! EUR/USD surged 15 pips close to that level before making a sudden turnaround and sinking back to the 1.3330 area. EUR/JPY was still stuck in consolidation, as it moved sideways around the 132.00 level. Read more…

British Pound (GBP)

Cable extended its winning streak yesterday but came short of testing the 1.6000 major psychological level. GBP/JPY, on the other hand, was stuck in its range as it held on to the 157.50 minor psychological handle. Which way will pound pairs go today? Read more…

Japanese Yen (JPY)

It’s indecision time for the yen bulls and bears as the lack of Japanese data inspired mixed yen trading. USD/JPY and GBP/JPY showed small losses while both EUR/JPY and AUD/JPY finished the day with gains. Read more…

Canadian Dollar (CAD)

USD/CAD’s 1.0300 handle is sure holdin’ like a boss! Just when it seemed like the pair was ready to make a break lower as it dipped to a low of 1.0282, it bounced right back up and closed at 1.0326. Is a higher bounce in the cards or is USD/CAD revving up for a stronger move down? Read more…

Australian Dollar (AUD)

What a close call! The bulls managed to take over AUD/USD’s price action although they didn’t do it without compromises. The pair had climbed to a high at .9391 before it dropped 71 pips to close just 46 pips higher than its open price. Read more…

New Zealand Dollar (NZD)

Fly, Kiwi, fly! NZD/USD was off to a good start on Monday’s Asian session, as it zoomed past the .8200 resistance and hovered above that level for most of the day. However, the pair pulled back from its rallies during the New York session and ended at .8171. Read more…

Swiss Franc (CHF)

So much for starting the week strong! The franc erased most of its gains to the dollar on Monday, as USD/CHF dipped to a low of .9233 then pulled up to the .9275 area. Will the Swiss currency be able to redeem itself today? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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