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Daily Forex Market Commentary:
On Wall Street today the Dow closed down 1.15% or 121.29 points on light volume. The Dow closed out the year up nearly 20% however; its biggest yearly gain since 2003.
For a more in-depth analysis of the Major FX Pairs and Price Action analysis please check out my price action forex trading course.
Currencies:
The U.S. dollar closed marginally higher against the Euro today but made nice gains against the Japanese yen. The U.S. dollar lost ground to the British pound, Australian dollar, Canadian dollar, and New Zeeland dollar. Most of the major FX pairs appear to be at important correction levels and U.S. dollar strength is expected to resume after the New Year holiday.
Pair in focus: EUR/USD
Nicely formed bearish pin bar today on euro/dollar. This pair is setting up for further downward movement into next week.
For a more in-depth analysis of the Major FX Pairs and – check out my price action trading course.
