Forex Video | New York Session Review | January 7, 2008

The U.S. dollar had been weak against the major currencies during today's European session. Although the world's reserve currency recovered modestly during the London lunch, a second phase of USD selling was sparked by the release of terrible U.S employment numbers for November by ADP. Traders who bought the EUR/USD on the dip minutes after the first post-news move, then exited the long trade when the euro stalled at the daily M4 pivot point, netted 125 pips in profit.

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YouTube | January 7, 2009

Tags:. .adp. .pips. .usd. .eur. .stalled