What’s on the Economic Horizon
USD/JPY edging close to intervention levels
German Constitutional Court ruling scheduled today
U.K. claimant count change to show 0.1K increase in hiring?
U.S. Dollar (USD)
Tough luck! The Greenback was still unable to get back on its feet during yesterday’s trading as it continued to lose ground against its major counterparts. Aside from QE3 speculations, what else is weighing the Greenback down? Read more…
Euro (EUR)
The euro is back on the winners’ list, baby! With traders anticipating good news from today’s major events, the shared currency had an easy time finding interested buyers. EUR/USD found itself 99 pips higher at 1.2858, while EUR/JPY crept up 12 pips to finish at 99.96. Read more…
British Pound (GBP)
Mixed results for the pound yesterday, as it stumbled against the yen, but rallied hard versus the dollar. GBP/JPY closed lower for the third consecutive day, closing 19 pips lower at 124.93, while GBP/USD closed at a new high at 1.6070, up 81 pips from its opening price. Read more…
Japanese Yen (JPY)
The Japanese yen’s performance was as mixed as a bag of M&Ms as it ended higher against the U.S. dollar, Loonie, and pound but lost ground to the rest of its major counterparts. What’s driving the Japanese yen these days? Read more…
Canadian Dollar (CAD)
Once again, the Loonie outperformed the Greenback! With Moody’s threatening to downgrade U.S. debt, USD/CAD slipped another 44 pips as it fell to .9731 and recorded its fourth straight slide. When will USD/CAD’s downtrend end? Read more…
Australian Dollar (AUD)
Surf’s up, mate! AUD/USD rode the anti-USD wave of QE3 speculations for almost the entire day as it managed to break above the 1.0400 major psychological resistance and close at 1.0439. Can it go for more gains today? Read more…
New Zealand Dollar (NZD)
Talk about taking advantage of the opportunity! With the greenback floundering, the Kiwi bulls took over and pushed NZD/USD to new highs. The pair rose nearly 100 pips to finish at .8185, and is now knocking on the door of the .8200 handle. Will resistance hold? Read more…
Swiss Franc (CHF)
Just like the other European currencies, the franc gave the scrilla a beating in yesterday’s trading action. USD/CHF set a new three-month low, falling 73 pips to finish at .9390. 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!
