Asian Session Recap – April 9, 2014

  • AU Westpac consumer confidence at 99.7 vs. 99.5 previous
  • AU home loans rises by 2.3% vs. 1.5% expected
  • UK BRC shop price index drops by 1.7% vs. 1.5% downtick estimates
  • UK trade data on to show 9.2 billion GBP deficit?

No volatile moves this time! Traders seem to have taken a breather after yesterday’s crazy price action. European currencies like EUR, GBP, and CHF stayed in their tight ranges while the yen crosses showed retracements to the tune of 50 pips.

It was the comdolls that gained most attention with AUD/USD and NZD/USD popping up by around 50 pips a few hours into the Asian session. Analysts believe that a break in technical resistance levels and continued Greenback weakness contributed to the comdolls’ strength. Of course, it also doesn’t hurt that Australia’s consumer sentiment and home loans data both came better-than-expected.

Will London session traders pick up where they left off yesterday? The U.K.’s trade balance numbers is the only tier 1 report on tap during the London session but that doesn’t mean that we won’t see volatility! Remember that the FOMC meeting minutes will also be released at 6:00 pm GMT today.

Be careful with your trades, fellas!

U.S. Session Recap

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!