FOREX New York Session Video January 2, 2008

Traders who embarked on today's New York session with hopes of a memorable first full trading day of 2008 were not disappointed. The first half of the session featured a break of the neckline on the GBP/JPY head and shoulders pattern which spanned all of 2007, yielding at least 200 pips on a single conservative entry and exit. A multi-year low for the December ISM index sparked dollar weakness on the majors during the latter half of the session, producing a 68-pip trade on the EUR/USD.