What’s on the Economic Horizon

German Factory Orders to Turn Positive?
Ivey PMI to Fall to 58.6 From 63.5
RBA Expected to Reduce the Cash Rate by 25 Basis Points

U.S. Dollar (USD)

Is this a return to fundamentals we’re seeing? Thanks to the better-than-expected non-farm employment change, the Greenback was able to stay afloat versus other major currencies. The U.S. dollar index ended the U.S. trading session where it started, forming a doji-type candlestick. Read more…

Euro (EUR)

With risk appetite dominating the markets, who needs to watch the Super Bowl to see some action? Okay, maybe it’s not as exciting as watching The Big Game, but the euro managed to lock in some pips thanks to a positive jobs report in the U.S. EUR/USD traded on a 100-pip range before ending the day at its open price, but EUR/JPY rose by 47 pips to 100.34. Read more…

British Pound (GBP)

GBP/USD bounced up and down the 1.5800 handle last Friday like a seesaw. But after the pair plunged to its intraday low of 1.5750, the pound started to pare its losses and ended the day 15 pips above its opening price at 1.5817. Read more…

Japanese Yen (JPY)

The yen suffered across the board yesterday as traders unwound their carry traders on better-than-expected U.S. data. USD/JPY and EUR/JPY both rose on Friday, respectively gaining 33 pips and 47 pips. Read more…

Canadian Dollar (CAD)

Never mind poor economic data – risk appetite is here to stay! Thanks to a strong NFP report, USD/CAD blasted below its .9950 support and ended the day with a 60-pip drop at .9936. Boo yah! Read more…

Australian Dollar (AUD)

Friday was definitely a good day for the Aussie as it managed to steal some pips from the safe haven Greenback. AUD/USD closed the day at 1.0706, 9 pips higher from its opening price. Then, earlier today, AUD/USD rallied again despite a weaker-than-expected retail sales report. Read more…

New Zealand Dollar (NZD)

Thanks to the pick up in risk appetite, the Kiwi was able to rally to its 21-week high against the dollar on Friday. NZD/USD consolidated below where it opened for the most part of the day but traded higher during the New York session. By the day’s close, the pair had settled 28 pips above its opening price at .8361. Read more…

Swiss Franc (CHF)

What a buzzkill! Unlike the other major currencies, the Swiss franc was unable to rally against the dollar in Friday’s trading. USD/CHF traded higher and ended the day at .9184, up from its opening price of .9168. Read more…

Batman and Robin, 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!

Rating: 5/5 (1 votes cast)

What’s on the Economic Horizon

German reports on the docket
Canadian GDP expected to increase by 0.2%
U.S. to publish consumer confidence data

U.S. Dollar (USD)

After weeks of trying, the dollar was finally able to bring sexy back yesterday! For the first time in weeks, the dollar was able to take away solid pips from its higher-yielding counterparts. While EUR/USD dropped an awesome 100 pips to end at 1.3130, GBP/USD fell 34 pips to 1.5702. The question is, will the dollar let these pips slip through its fingers today or will it extend its rally? Read more…

Euro (EUR)

Was that a drive-by shooting we just witnessed? With risk aversion coming back in force, the euro got killed in yesterday’s trading action. EUR/USD dropped a solid 100 pips to finish at 1.3130, while EUR/JPY closed at 100.24, down 120 pips from its opening price. Read more…

British Pound (GBP)

Just like Rafael Nadal who lost the Australian Open to my homeboy Novak Djokovic, the pound also failed to snatch a win against the dollar. GBP/USD traded lower yesterday and ended the day 34 pips below its opening price at 1.5702. Read more…

Japanese Yen (JPY)

And the Bank of Japan’s nightmares continue! The yen continued to strengthen across the boards yesterday, leading USD/JPY to fall another 32 pips and end the day at a new three-month low at 76.21. Will this finally get the central bank to step in? Read more…

Canadian Dollar (CAD)

With the dollar off to a quick start, the Loonie saw itself trading lower to begin the week. USD/CAD hit a high at 1.0071 before eventually stabilizing at 1.0028, just 18 pips above its opening price for the week. Will the bears eventually take over and push USD/CAD back below parity? Read more…

Australian Dollar (AUD)

Make no mistake about it, the Aussie didn’t bring its A-game yesterday! Rather than extending its three-day winning streak by another day, it ended up weakening against the Greenback. This led AUD/USD to fall 50 pips and end the day at 1.0595. What a combo breaker! Read more…

New Zealand Dollar (NZD)

Uh oh. It looks like the Kiwi’s flight up the charts is running out of fuel! NZD/USD opened at what turned out to be its intraday high at .8239 and dropped to a low of .8156. Before the day’s close, the pair settled at .8189. Read more…

Swiss Franc (CHF)

The Swissy’s scorecard was as mixed as a glass of margarita in yesterday’s trading. While it was able to end the day with an 11-pip win against the euro, it gave up 62 pips to the dollar when USD/CHF closed the day at .9181. 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!

Rating: 0/5 (0 votes cast)

What’s on the Economic Horizon

Initial Jobless Claims to Fall to 373K
U.K. Construction PMI on Deck

U.S. Dollar (USD)

The combination of worse-than-expected economic data from the U.S., rumors that the Greek swap deal happening, and the solid results of the German and Portuguese bond auctions sparked a wide-reaching case of risk appetite yesterday. As a result, the dollar took a hit across the board, with the currency posting a 72-pip loss against the euro and a 71-pip fall versus the pound by the end of the day. Read more…

Euro (EUR)

“Up, up, here we go, go!” With an abundance of risk appetite to fuel its jet packs, the euro flew up the charts, gaining against the dollar and the yen. EUR/USD closed at 1.3152, up 72 pips from its opening price, while EUR/JPY finished at 100.25, posting a 52 pip gain on the day. Read more…

British Pound (GBP)

Whoa! Pound bulls partied like it’s the end of the world on the charts yesterday. Thanks to positive data and risk appetite, GBP/USD was able to end the day 71 pips above its opening price at 1.5828. Boo yeah! Read more…

Japanese Yen (JPY)

And the yen’s winning streak comes to an end! No thanks to the market’s appetite for risk, the yen was sent lower against most major currencies yesterday. Versus the euro, for instance, the yen posted a 56-pip loss. Read more…

Canadian Dollar (CAD)

And just like that, USD/CAD is now officially on the other side of parity! USD/CAD closed at .9991, as the Loonie closed 36 pips lower on the day. Is the pair destined for new lows? Read more…

Australian Dollar (AUD)

Why hello there risk appetite! Fortunately for the Aussie, the market was in a good mood yesterday, helping it rally despite not-so-good economic data. AUD/USD ended the U.S. trading session at 1.0697, a very respectable 80 pips higher from its opening price. Read more…

New Zealand Dollar (NZD)

Aaah, there’s nothing like the positive vibes to get the Kiwi hustlin’ up the charts. Thanks to overall risk appetite yesterday, NZD/USD was able to close 60 pips above its opening price at .8316. Read more…

Swiss Franc (CHF)

Negative data?? No problem! The Swiss franc still managed to rally against the dollar yesterday despite disappointing economic reports. USD/CHF started the day on an upward rally, reaching an intraday high of .9250, before trading lower and closing the day 43 pips below its opening price at .9161. Read more…

Batman and Robin, 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!

Rating: 5/5 (4 votes cast)

What’s on the Economic Horizon

China’s services PMI prints at 52.9 vs. 56.0
U.S. NFP on tap at 1:30 pm GMT, expected to print at 145K

U.S. Dollar (USD)

The dollar’s price action was as mixed as a bag of beans yesterday as traders look forward to the big NFP numbers coming up in a few hours. EUR/USD ended the day with only a 7-pip fall to 1.1.3145, while USD/CHF closed with an 8-pip gain to .9168. Read more…

Euro (EUR)

Despite it being already the month of love, the euro didn’t get any lovin’ from traders in yesterday’s trading. EUR/USD failed to trade past the 1.3200 handle and dropped to an intraday low of 1.3085. The shared currency was able to pare some of its losses during the New York session but it still fell short of a win by 7 pips, closing at 1.3145. Read more…

British Pound (GBP)

GBP/USD found itself slightly lower yesterday, no thanks to the disappointing construction PMI figures. By the end of the U.S. trading session, GBP/USD sat at 1.5802, which was 26 pips lower from its opening price that day. Read more…

Japanese Yen (JPY)

Looks like the BOJ peeps aren’t as excited to intervene as many market geeks are expecting! We didn’t hear much jawboning from the BOJ yesterday, even when USD/JPY stayed near its record lows at 76.21, while EUR/JPY closed at 100.18. Read more…

Canadian Dollar (CAD)

Talk about a neck-and-neck fight! Bulls and bears played tug-o-pips on USD/CAD yesterday, with the pair just seesawing around its opening price of .9991. However, it was the dollar who came out on top by the end of the day’s trading as USD/CAD closed at .9996. Sorry Loonie! Read more…

Australian Dollar (AUD)

What bad economic data? Despite mixed economic reports from Australia, the Aussie bulls surfed the currency waves up and even pushed AUD/USD to the 1.0750 handle before pushing it to its 1.0706 closing price. Read more…

New Zealand Dollar (NZD)

With the non-farm payrolls just around the corner, NZD/USD was unable to pick a direction yesterday. The currency pair simply moved sideways and traded within a very tight 50-pip. NZD/USD ended the U.S. trading session at .8333, merely 14 pips higher from its opening price. Read more…

Swiss Franc (CHF)

What a bummer! It appears that the the threat of currency intervention, as well as the upcoming employment report from the U.S., kept the Swissy’s price action muted all day yesterday. EUR/CHF, for instance, closed the day at 1.2050, just 2 pips higher from its opening price during the Asian session. Read more…

Batman and Robin, 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!

Rating: 5/5 (3 votes cast)

What’s on the Economic Horizon

U.S. Manufacturing And Jobs Reports On Tap
Will SNB Intervene As EUR/CHF Nears 1.2000?
Canada’s GDP for December Disappoints

U.S. Dollar (USD)

The dollar’s scorecard was as mixed as a bag of M&M’s in yesterday’s trading. While it was able to rally against the euro, snatching a 50-pip win as EUR/USD closed at 1.3080, it gave up 52 pips to the pound as GBP/USD closed at 1.5757. Read more…

Euro (EUR)

Red was the color of the day yesterday as most economic reports released from all over the globe failed to meet expectations. Because of this, EUR/USD was hit hard by risk aversion and posted its second straight day of losses. The pair closed the U.S. trading session at 1.3080, 50 pips lower from its opening price that day. Read more…

British Pound (GBP)

It looks like the cable bulls just needed a one day break before it could resume its crazy run! Once again, the bulls came out on top, as GBP/USD posted an impressive 55-pip win to finish at 1.5757. Could this be the start of another winning streak? Read more…

Japanese Yen (JPY)

There’s just no stopping the yen! Despite warnings of intervention, the yen continued to post gains against its counterparts. USD/JPY ended yesterday’s trading 12 pips below its opening price at 76.22. Meanwhile, against the euro, the yen was able to snatch a 55-pip win, closing the day at 99.69. Read more…

Canadian Dollar (CAD)

No thanks to Canada’s disappointing GDP figures and the slight case of risk aversion in the market, the Loonie was unable to make significant gains yesterday. Against the Greenback, for instance, the Loonie ended the day at 1.0027, which was just a 1 pip difference from its opening price. Read more…

Australian Dollar (AUD)

That’s two for two! The Aussie scored another win against the dollar yesterday as AUD/USD ended the day 22 pips above its opening price at 1.0617. Can it extend its winning streak to three days? Read more…

New Zealand Dollar (NZD)

And the uptrend continues! The New Zealand dollar bounced back yesterday and posted a 66-pip victory versus the dollar, hitting its highest level in four months. Is there no stopping the Kiwi? Read more…

Swiss Franc (CHF)

We saw some mixed results for the franc yesterday, as USD/CHF climbed 25 pips to finish at .9205, while EUR/CHF edged even closer to its “floor” at 1.2000, as it closed the day at Could we see another SNB intervention? 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!

Rating: 4/5 (2 votes cast)

The EUR/USD has a number of hurdles to overcome before a ceiling it established. I am looking for a ceiling – for now – since the market trend has transitioned into a sideways range. IT IS early in the transition but a “V” bottom is unlikely here with the underlying fundamental picture and the 1.3050 to 1.3200 area is a thick layer of resistance.

I’m not going bearish on the dollar nor bullish on the euro in a longer-term picture. For now I will watch for a trading range to develop in each. There is not a complete enough picture to drive either into a trend yet, although Ben Bernanke did give the greenback a strong shove…off a cliff.

One thing to note as a follow up to my last update: The 50 period SMA close was blown out of the water by the dollar’s sell-off and now must be considered near-term support. The pair is now battling at the 1.3100 major psychological level which is still 100 pips from top of the trading range I have highlighted in this update.

Rating: 5/5 (1 votes cast)

I recorded this video series in small chunks (back on January 25) so each topic could be covered in about five minutes although on the last one I lost track of time so it runs just under ten minutes.

(And this is a great follow-up to my last update here at Baby Pips, “The EUR/USD Enters a Zone of Major Resistance”)

This four-part video series (links are below) is about breaking down the market trend transition we see in any market and focus on what’s happening right now in the EUR/USD. The daily is losing it’s downtrend and the transition will and has changed the Directional Bias of the pair.

The psychology of a downtrend lends itself to swing shorts on bounces or corrections but once the 34EMA loses its “four to six o’clock” angle the strategy is no longer applicable. This is a tough transition psychologically because the last swing is a losing trade. And the next trade is one that must take into account the new and often unsettled market trend.

Shifting gear is hard to do especially when the old gear got you as far as it did.

I see the EUR/USD in a state of transition and not to be left out…I see the U.S. Dollar Index in the same transition. While the EUR/USD is moving sideways at the BOTTOM of its range, the greenback is doing it at the TOP of its uptrend.

The 38.2% Fibonacci Retracement is currently resistance and this lines up with past levels of selling pressure as well as it being jsut six pips from the 1.3250 major psychological level. I also think the lack of buying support at 1.3200 is especially telling of where the bulls are willing to step in and support the pair – which actually ended up being close to the 1.3180 minor psychological level.

So here are the links to the videos. I think watching them in a bigger video size would be best since I get into a lot of price detail as the series progresses but there is a lot of video goodness at my You Tube channel.

PART ONE of Trend Transitions
PART TWO of Trend Transitions
PART THREE of Trend Transitions
PART FOUR of Trend Transitions

Ok, so if you like this…you’re gonna LOVE my webinar tomorrow. It’s a free one that I’ll be doing at 8:00PM EST and you can register here.

Rating: 4.7/5 (3 votes cast)

What’s on the Economic Horizon

U.S. Q4 2011 GDP Disappoints Forecasts
BOJ To Intervene Soon?
Greek Debt Deal Expected To Be Announced During The EU Summit

U.S. Dollar (USD)

And just when investors were starting to get over the Fed’s dovish FOMC statement, negative data from the U.S. were released and reminded markets that QE3 is indeed a real possibility. Consequently, the Greenback was unable to bring sexy back in Friday’s trading. Boo! Read more…

Euro (EUR)

We got mixed results from the euro last Friday. While it came out on top and earned 115 pips in its battle against the dollar, it marked its second straight loss against the yen and lost 12 pips. What can we expect from it today? Read more…

British Pound (GBP)

Clean sweep baby! For the second straight week, cable shut out the dollar, posting another 44 pip victory on Friday to finish at 1.5731. For those of you who can’t do simple math, that’s TEN straight days that GBP/USD has closed higher! Boomshakalaka! Read more…

Japanese Yen (JPY)

The yen sumo-wrestled and knocked out its counterparts once again in Friday’s trading. USD/JPY dropped to its one-week low of 76.65 before ending the day at 76.68, 77 pips below its opening price. Against the euro, the yen managed to snatch a 12-pip win as EUR/JPY closed the week at 101.36. Read more…

Canadian Dollar (CAD)

Parity holds AGAIN! Though the Loonie gained 9 pips against its American counterpart, it was unable to push USD/CAD below parity as the pair greeted the weekend at 1.0008. Will Loonie bulls attack 1.0000 again today? Read more…

Australian Dollar (AUD)

Just like Willow Smith’s hair, AUD/USD got whipped back and forth between the 1.0650 and 1.0600 handles in Friday’s trading. Luckily for the Aussie, negative data came out of the U.S. and helped it end the day with a 38-pip win. Read more…

New Zealand Dollar (NZD)

That’s what you call ending the week with a bang! The Kiwi soared higher on Friday, as risk appetite was still rampant in the markets. This helped NZD/USD close at .8189, up a solid 48 pips on the day! Read more…

Swiss Franc (CHF)

Just like its European counterparts, the Swiss franc exerted its dominance over the greenback in last Friday’s action. USD/CHF closed 81 pips lower to finish the week at .9125. This marked the third consecutive week that USD/CHF has finished lower. 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!

Rating: 0/5 (0 votes cast)

What’s on the Economic Horizon

Australia’s PPI prints at 0.3% for 4Q 2011
Euro zone consumer consumer confidence report on tap
Canada leading index due today

U.S. Dollar (USD)

The dollar’s price action was as mixed as a bag of beans last Friday as traders remained cautious on what the euro zone officials are planning for the days ahead. GBP/USD climbed by another 75 pips to 1.5568, but USD/JPY slipped to 76.97 while EUR/USD also dropped by 33 pips to 1.2934. Read more…

Euro (EUR)

The euro ended its 4-day winning streak last Friday as traders closed out for the weekend. EUR/USD ended the U.S. trading session 1.2934, 34 pips lower from the beginning of the day. Read more…

British Pound (GBP)

The pound was too fly in Friday’s trading to be depressed by concerns about the euro zone. GBP/USD extended its upward rally, ending the week at 1.5568, 75 pips above its opening price for Friday. Read more…

Japanese Yen (JPY)

Yen strength is back in Vogue! Okay, maybe not exactly, but with the USD/JPY gaining 17 pips and EUR/JPY falling by 46 pips, it’s almost the same thing, right? Last Friday the yen lost against the comdolls, but strengthened against its other counterparts on mixed market sentiment. Read more…

Canadian Dollar (CAD)

The Loonie found itself sitting on the weaker side of the fence as the trading week closed last Friday. USD/CAD was unable to find a break below 1.0100 and closed the day 28 pips higher from its opening price that day. Read more…

Australian Dollar (AUD)

Surf’s up, Aussie bulls! Thanks to strong Australian data and a bit of risk appetite in markets, AUD/USD blasted above its intraweek resistance at 1.0450 and capped the week at 1.0485. Awesome! Read more…

New Zealand Dollar (NZD)

No data? No problem! Despite the lack of economic reports from New Zealand, the Kiwi still managed to end the week with a 34-pip win against the dollar for Friday as NZD/USD ended the week at .8062. Read more…

Swiss Franc (CHF)

Just when everyone thought that the franc would sweep last week’s trading with a 5-day winning streak against the dollar, USD/CHF got rejected at support just above .9300. By the end of Friday’s trading, the pair was 22 pips above its opening price at .9344. Bummer! 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!

Rating: 5/5 (1 votes cast)

What’s on the Economic Horizon

KOF Economic Barometer on Tap
U.S. 2011 4Q GDP Projected at 3.0%

U.S. Dollar (USD)

Could the dollar’s suffering be coming to an end soon? While most of the major currencies posted new high versus the greenback, most of them gave back their gains by the end of the day, and in EUR/USD’s case, even allowed the dollar to edge higher. Read more…

Euro (EUR)

Is the euro rally starting to fizzle? After popping higher during the start of the London session, EUR/USD quickly erased its gains and closed 10 pips down from its 1.3113 open price. EUR/JPY also chalked up a losing day as it slipped a couple of pips below the 101.50 handle. Read more…

British Pound (GBP)

Is the pound’s rally finally about to come to an end? It posted its 9th straight victory against the dollar yesterday, but it didn’t really do it convincingly. GBP/USD rallied to a high 1.5735, but it couldn’t keep its head above the 1.5700 handle. It eventually ended the day at 1.5687, up only 18 pips on the day. Read more…

Japanese Yen (JPY)

After taking some bumps and bruises throughout the week, the yen was able to recuperate some of its losses in yesterday’s trading action. EUR/JPY topped out just above 102.00 before dropping late in the New York session to close at 101.48. Meanwhile, GBP/JPY dropped 30 pips from its opening price to finish at 121.50. Read more…

Canadian Dollar (CAD)

And parity holds for USD/CAD! But for how long? The Loonie made a strong rally yesterday but quickly reversed during the U.S. session when euro zone debt concerns resurfaced. Still, the Loonie was able to save some of its gains as USD/CAD closed 19 pips down from its 1.0036 open price. Read more…

Australian Dollar (AUD)

Just like its comdoll siblings, AUD/USD soared to new highs versus the dollar early in the trading day, only to give back most of the gains by the time the New York session rolled around. AUD/USD hit a high at 1.0689, but then settled at 1.0621, just 17 pips above its opening price. Read more…

New Zealand Dollar (NZD)

It seems like the Kiwi rally is finally losing steam! After opening at .8179, NZD/USD climbed to a high of .8237, but it eventually slid back down to end the day just 12 pips higher at .8191. Will Kiwi bulls pick up the pace today or will they lie down and submit to the bears? Read more…

Swiss Franc (CHF)

Every pip counts! The Swiss franc was able to pull off wins against both the dollar and the euro yesterday, and though its gains weren’t exactly impressive, seeing it rally against its two major counterparts isn’t something that happens everyday. It gained 5 pips against the dollar and stole 17 pips away from the euro. 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!

Rating: 5/5 (2 votes cast)