Daily Forex Fundamentals – October 11, 2013

What’s on the Economic Horizon
BOE kept monetary policy unchanged
Canadian jobs data due today

U.S. Dollar (USD)

Back-to-back, baby! Thanks to speculations of a debt ceiling agreement, the Greenback was able to extend its gains on most of its counterparts. USD/JPY and USD/CHF popped up, while EUR/USD and GBP/USD got hit by risk appetite. Read more…

Euro (EUR)

You win some, you lose some. While the euro gave up some of its recent gains to the dollar, it was able to recover against the Japanese yen. What’s in store for the euro today? Read more…

British Pound (GBP)

Bo-ring! GBP/USD’s movement was a snoozer yesterday, as the pair cruised around the 1.5950 minor psychological support. Should we expect a breakout soon? Read more…

Japanese Yen (JPY)

What a bloodbath! Thanks to overall risk appetite and strong Nikkei performance, the yen plunged across the board. USD/JPY, EUR/JPY, and GBP/JPY all showed significant gains with USD/JPY closing above the 98.00 handle. Read more…

Canadian Dollar (CAD)

The Loonie was off to a weak start but it seems that 1.0400 held like a boss for USD/CAD, as the pair turned after hitting that resistance area. Could the Loonie be in for more gains today? Read more…

Australian Dollar (AUD)

Slowly but surely! AUD/USD might not have jumped as strongly as the yen crosses, but it didn’t fare so poorly either. The pair dropped to an intraday low at .9389 but it closed 23 pips higher than its open price. Booyah! Read more…

New Zealand Dollar (NZD)

The Kiwi had its wings clipped in yesterday’s trading, as NZD/USD broke below its previous range and sank below the .8300 level. Was this just a retracement or is a downtrend in the works? Read more…

Swiss Franc (CHF)

Like a moth to a flame! USD/CHF was drawn to the .9100 major psychological resistance yesterday, as the U.S. dollar kept recovering against its rivals. Can the Swiss franc make its own comeback? 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!