U.S. Session Forex Recap – Oct. 27, 2014

  • US new home sales clocks in at 467K vs. 470K expected, 466K previous
  • New Zealand markets out on Labor Day holiday

Major currencies were in Rangeville during the U.S. session, as the lack of reports failed to inspire volatility in the forex markets.

Ebola fears and a bit of profit-taking ahead of this week’s events weighed on the Greenback in the first hours of the trading session.

EUR/USD jumped to an intraday high of 1.2697 before settling back to 1.2668 while USD/JPY slipped to a session low of 107.78 before closing at 108.12.

The pound saw belated support from forex bulls after the U.K.’s GDP printed as market players had expected. GBP/JPY rose by 63 pips to 173.93, followed closely by GBP/USD’s 34-pip jump to 1.6086 and EUR/GBP’s 11-pip dip to .7876.

Comdoll bulls also hustled some muscle, thanks to leftover risk appetite from the previous trading sessions.

AUD/USD finished the day with a 12-pip gain at .8798, while NZD/USD saw a jump to .7846 before settling back to .7851. USD/CAD was an exception with its 25-pip rise to 1.1233.

Our Asian session forex trader friends won’t have a lot to look forward to today, since there are no major reports scheduled and New Zealand markets is out on Labor Day holiday. Still, keep your eyes peeled in case you see some good setups you could profit from throughout the week!

See also:

London 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!