Daily Forex Market Commentary:
The Dow closed up 53.66 points today, closing out at 10,520.10 which is the highest closing price this year. Investors found new hope in the economic recovery following upbeat reports on unemployment and durable goods orders. Volume was extremely light today due to the impending Christmas holiday.
Currencies:
Gold and other commodities prices increased today causing the U.S. dollar to fall. However, by the New York close it was apparent most of the dollar losses had been reversed as the overall trend of the greenback has been up against the major currencies recently.
Pair in focus: GBP/USD
Today’s daily bar on the pound/dollar formed another solid fakey setup. Fakey setups have been paying off quite nicely lately, we cover all the relevant fakey setups every day in our live member’s trading forum.

For a more in-depth analysis of the Major FX Pairs and Price Action education please check out our forex price action trading course.
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