Daily Forex Fundamentals – October 30, 2013

What’s on the Economic Horizon
FOMC monetary policy statement coming up
Spanish economy to end recession with 0.1% growth?
Swiss KOF economic barometer due today

U.S. Dollar (USD)

Weak U.S. data? So what? Ain’t nothin’ gonna stop the Greenback’s rallies now that risk aversion is driving price action! EUR/USD broke below its previous consolidation and traded to a low of 1.3736 while GBP/USD sank lower to the 1.6050 area. Read more…

Euro (EUR)

The euro did a Humpty Dumpty on the charts yesterday, as it had a great fall after days of sitting on the wall. EUR/USD was unable to break past the 1.3800 major psychological resistance and tumbled down to the 1.3750 area instead. Can it recover today? Read more…

British Pound (GBP)

Oh bloody hell! Cable took another nasty tumble in yesterday’s trading, as the pair broke below the 1.6100 major psychological support and reached a low of 1.6024. GBP/JPY also had its share of losses but was able to bounce of support at 157.00. Read more…

Japanese Yen (JPY)

Why, thank you risk aversion! The yen was able to edge a little higher than its major counterparts in yesterday’s trading, as EUR/JPY retreated to a low of 134.34 while AUD/JPY fell below the 93.00 handle. Can the yen keep up its gains? Read more…

Canadian Dollar (CAD)

I guess the Loonie needed some air, as the Canadian currency took a quick break from its recent dives. USD/CAD edged to a low of 1.0427 while CAD/JPY bounced from the 93.50 area. Will the Loonie resume its selloff today? Read more…

Australian Dollar (AUD)

The Aussie just can’t catch a good wave, can it? AUD/USD kept getting wiped out yesterday, as it crashed below the .9500 major psychological support. AUD/JPY was also having a terrible day when it chalked up roughly 100 pips in losses. Read more…

New Zealand Dollar (NZD)

How low can the Kiwi go? NZD/USD extended its slide yesterday when risk aversion took hold of the markets. The pair tumbled from the .8300 area to a low of .8234, and the selloff doesn’t seem to be showing any signs of ending soon! Read more…

Swiss Franc (CHF)

The risk-off trading environment was just too much for the franc to handle yesterday! The Swiss currency gave up more ground to the U.S. dollar, pushing USD/CHF up to a high of .9004. Will the former support area at .9000 hold as resistance from now on? 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!