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Daily Forex Market Commentary:
On Wall Street today stocks closed little changed from yesterday. Conflicting economic reports didn’t give investors much of a clue as to which direction stocks will ultimately take for the first quarter of 2010.
Currencies:
The U.S. dollar closed lower against most major currencies except for the Japanese yen which lost ground to the dollar. Dollar weakness will likely continue until Friday’s important employment reports which could shed light on the strength of the global economic recovery.
Pair in focus: AUD/JPY
The below chart has some recent great daily pin bars that formed on the aud/jpy currency pair. This pair tends to form nice looking pin bars with a high accuracy rate. For entry techniques and further analysis please see my forex trading course.
For a more in-depth analysis of the Major FX Pairs and Price Action analysis please check out my member’s trading forum.
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