Daily Forex Fundamentals – September 20, 2012

What’s on the Economic Horizon
Philly Fed Index Projected To Improve Slightly
U.K. Retail Sales On Tap
European Manufacturing and Services PMIs Due Today

U.S. Dollar (USD)

Are the dollar bears gearing up for another move? The dollar resumed its losing ways yesterday, as EUR/USD closed 18 pips higher at 1.3056, while AUD/USD ended the day at 1.0488, up 41 pips above its opening price. Read more…

Euro (EUR)

Boy, did the euro have a wild Wednesday! EUR/USD topped at 1.3086 before dropping like a rock to 1.2993. Good thing the euro bulls good their act together before the New York session closed. By the end of the day’s trading, the pair was up 18 pips from its opening price at 1.3056. Read more…

British Pound (GBP)

After testing its 5-month high yesterday, Cable was unable to go any further and ended the day 23 pips lower than its opening price. Is this the beginning of a new downtrend or is the move simply a pullback? Read more…

Japanese Yen (JPY)

Thanks to a fresh round of easing from the BOJ, yen pairs spiked up yesterday, although the gains were not sustained. Ultimately, USD/JPY closed just 2 pips higher for the day at 78.36. Read more…

Canadian Dollar (CAD)

Without any economic data from Canada, the Loonie just continued to range like a Range Rover against the dollar. USD/CAD traded sideways all throughout yesterday’s trading before ending the day 3 pips below its opening price. Read more…

Australian Dollar (AUD)

Surf’s up, baby! The Aussie bounced back yesterday, as a wave of risk appetite helped carry AUD/USD 41 pips higher up to 1.0481. Can the Aussie hang-ten and retest former highs or will it wipe out in today’s trading session? Read more…

New Zealand Dollar (NZD)

NZD/USD’s price action yesterday could be summed up in one word: sideways. The pair opened the Asian trading session at .8274, bounced around a relatively tight 35-pip range, and closed the day barely changed at .8275. Read more…

Swiss Franc (CHF)

USD/CHF’s price action yesterday was as wild as a rollercoaster ride. The pair began the day at .9292, experienced a sudden drop to .9262 during the Asian session, climbed above .9300, and then sold-off once again during the U.S. session. At the end of the day, the pair was sitting at .9274. 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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