Forex Trading - New York Session
Today featured trade balance news for the United States and Canada. The U.S. news was not enough to propel the euro upward — with the prevailing trend — above a psychological figure and m4 pivot point to a new all-time high, so the currency pair fell instead to provide a short trade opportunity. The Loonie, on the other hand, did make its break in the direction of the prevailing trend. The USD/CAD retracement gave traders multiple entry options, and the “ride the 5″ journey through the London close for a 25-pip profit looks easy in retrospect, but was actually a 3-hour test of discipline and patience.