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PRICE ACTION FOREX TRADING COURSE
Forex Commentary:
The U.S. dollar was basically unchanged today against the euro; up 1 pip, the greenback has now gained on the euro 6 out of the last 7 trading days.
Today’s EURUSD price action saw the formation of yet another bearish pin bar, as price moved higher early on in the trading session into the 8 day ema but quickly got sold lower as the trading day came to an end in New York.
The greenback also gained ground against the British pound and New Zealand dollar but lost to the other majors.
Trading Setups / Chart in Focus:
GBPJPY
The GBPJPY formed a very nice 4 hour fakey setup recently in-line with the bearish momentum on both the daily and 4hr chart. A big shout-out to “rsd”; one of our member’s in the forum who posted this setup before it came off, giving everyone in the forum a chance to catch this great price action setup.
For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my price action forex trading course.
Other Markets:
On Wall Street today stocks closed at a two-year high, with the S&P 500 Index up for the fifth consecutive trading session, as investors combed through different signals from earnings and economic data.
The Dow closed 26.33 points higher, or 0.2%, the S&P 500 closed up 4.24 points, or 0.3%, and the Nasdaq added 3.87 points, or 0.2%.
Crude-oil futures on the New York Mercantile Exchange finished at $90.48 a barrel, their first close above $90 since October 2008.
Upcoming important economic announcements: 12/23
8:30am EST: Canada – GDP m/m
8:30am EST: United States – Core Durable Goods Orders m/m
8:30am EST: United States – Unemployment Claims
10:00am EST: United States – New Home Sales
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