Learn To Trade Price Action with Nial Fuller...
PRICE ACTION FOREX TRADING COURSE
Daily Forex Market Commentary:
On Wall Street today the Dow closed up points as stronger than expected retail sales numbers gave investors hope that consumers and business are feeling more confident about the economy. U.S. retail sales rose 1.3 percent in November, double the increase analysts had expected and better than the 1.1 rise in October. A strong recovery in consumer spending is one of the key elements to sustained growth because it is a major component of U.S. economic activity which has repercussions around the world.
Currencies:
The U.S. dollar strengthened against all the major FX pairs today as the better than expected retail sales number gave investors reason to believe the U.S. may have to raise interest rates sometime next year. Crude oil and Gold were also down today which contributes to U.S. dollar strength.
Pair in focus: Dollar/Yen
Our inside bar posted in yesterday’s commentary came off nicely today. Depending on your profit target traders taking this trade should have made at least 100 pips or moved their stop to break even. Inside bar setups and other price action setups are discussed extensively in our member’s market commentary and the member’s trading forum.
For a more in-depth analysis of the Major FX Pairs and Price Action Signals please check out my forex trading course.
Nial Fuller Facebook
Nial Fuller Twitter
Nial Fuller LinkedIn
Nial Fuller YouTube
RSS Feed