Daily Forex Fundamentals – October 29, 2013

What’s on the Economic Horizon
U.K. Mortgage Approvals on Tap
EUR/USD Retests Last Week’s Lows
U.S. Retail Sales Due Today

U.S. Dollar (USD)

Dollar bulls attaaack! Thanks to some weak reports from the major economies, risk aversion clouded over the markets. EUR/USD retested its lows from last week, GBP/USD dropped to the 1.6150 area, and USD/JPY reached a high at 97.80. Booyah! Read more…

Euro (EUR)

The euro bulls partied in the pip streets yesterday despite the lack of significant trading volatility across the board. EUR/USD and EUR/JPY might have slipped a bit but EUR/GBP and EUR/CHF capped the day in the green. Read more…

British Pound (GBP)

The pound got a big “L” stamped on it yesterday as it lost to its major counterparts. Heck, GBP/USD, EUR/GBP, and even GBP/JPY showed weaknesses! Read more…

Japanese Yen (JPY)

Another one bites the dust! Thanks to a slight risk aversion in the markets, the yen crosses ended the day in the red. USD/JPY gave the best fight with only a 3-pip loss but EUR/JPY, GBP/JPY, and AUD/JPY weren’t as lucky with their 20-pip or so losses. Read more…

Canadian Dollar (CAD)

Well done, Loonie bulls! While other major currencies were nursing losses against the dollar and the yen, the Loonie put up a good fight with USD/CAD and USD/JPY closing near its open prices. What’s up with that? Read more…

Australian Dollar (AUD)

When the high-yielding bulls are away, the Aussie bears will definitely play! Despite the lack of reports from the Land Down Under, AUD/USD and AUD/JPY still ended the day in the red. Does this have something to do with the overall risk aversion in the markets? Read more…

New Zealand Dollar (NZD)

Unlike its comdoll buddies, the Kiwi was able to dodge the risk aversion train and actually posted gains against the Greenback and the yen. What’s up with that?! Read more…

Swiss Franc (CHF)

What risk aversion?! The franc got stuck in Loserville yesterday as both USD/CHF and EUR/CHF posted gains. 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!