FOREX VIDEO - New York Session Review - August 27, 2009

Source: blogs.fxstreet.com

The US dollar had attempted, but failed, to make new gains against multiple currencies for a full round-the-clock cycle. During the final hour of European trading, the USD bulls seemed to give up, and the bears stepped in. Currency correlation, identification of basic support and resistance, and a Fibonacci study contributed to creation of a trade plan to go long on the GBP/USD currency pair. Those traders who took the shot, then closed the trade at the next significant level of resistance, earned a 60-pip profit at today’s London close. Curt Wehrley FX Bootcamp’s Quantitative Analyst


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