Daily Forex Fundamentals – September 19, 2013

What’s on the Economic Horizon

FOMC decides against tapering
U.K. retail sales to show upside surprise?
SNB rate decision scheduled today

U.S. Dollar (USD)

Was yesterday’s price action crazy or what?! Thanks to a surprising move by the Fed, the Greenback fell to a seven-month low against a basket of currencies. USD/JPY also fell by 108 pips while GBP/USD rocketed by a ridiculous 206 pips. Read more…

Euro (EUR)

Move out of the way! Euro bulls chargin’! EUR/USD surged past the 1.3400 and 1.3500 major psychological resistance levels yesterday, as it reached a high of 1.3512. EUR/JPY also had its share of gains and was able to edge 12 pips close to the 133.00 mark. Read more…

British Pound (GBP)

Ka-ching, ka-ching! A couple hundred pips in the bag! Thanks to the downbeat FOMC statement, GBP/USD jumped from the 1.5900 area to a high of 1.6123, before ending the day at 1.6113. Will the pound be able to hold on to its recent gains and go for more? Read more…

Japanese Yen (JPY)

With the Greenback taking center stage in the markets yesterday, the low-yielding yen only played a supporting role. USD/JPY’s 108-pip fall was offset by increases in other yen crosses such as EUR/JPY, AUD/JPY, and GBP/JPY. Read more…

Canadian Dollar (CAD)

Just like Miley Cyrus’ heart, some things are just meant to get broken. Take the 1.0300 handle on USD/CAD for instance! The pair breached this strong support level and the rising trend line on the daily time frame when the FOMC statement turned out to be a disappointment for dollar bulls. What happened? Read more…

Australian Dollar (AUD)

Surf’s up, dudes! Like many major dollar pairs, AUD/USD enjoyed a nice spike after yesterday’s Fed statement. The pair reached the .9500 handle and closed 142 pips higher than its open price. Booyah! Read more…

New Zealand Dollar (NZD)

Is there no end to the Kiwi’s rallies? NZD/USD closed out another day in the green, as the pair shot up from the .8250 area and came close to reaching the .8400 mark. Let’s take a look at the recent and upcoming reports to see if NZD/USD can keep climbing. Read more…

Swiss Franc (CHF)

Ain’t no support level too strong for USD/CHF to break! The pair successfully broke below the .9200 major psychological handle in yesterday’s NY session, reaching a low of .9132 and closing at .9134. How low can USD/CHF go? 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!