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  • U.S. banks on holiday for Independence Day
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With U.S. traders out for their Independence Day holiday and there’s a lack of major reports on tap, it’s not surprising to see the major currencies stay in tight ranges during the U.S. forex trading session.

The dollar lost a few pips against its counterparts. Though USD/JPY remained in a tight range near 102.00, GBP/USD rose by another 17 pips to 1.7157 throughout the session while EUR/USD also inched 2 pips higher at 1.3593.

The comdolls were also all over the charts. AUD/USD gained 12 pips at .9364 but NZD/USD stayed at around .8743 while USD/CAD shot up by 21 pips to 1.0657.

Let’s hope that the Asian session traders are ready and fired up to start a brand new trading week! A few hours ago we saw Australia’s AIG construction index and ANZ job ads come in better than market expectations. Surprisingly, AUD/USD FELL a couple of pips at the reports’ release.

The only other major report during the Asian session is Japan’s leading indicators numbers at 5:00 am GMT. Will we see more comdoll weakness for the rest of the day?

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!