The USD index: Today, the US dollar is floating in a bearish direction. The price broke its support level. I hope that market will fall to the 110.1 support level. Yesterday the hammer candle does not move in a bullish trend. It just gave twenty pips and failed to remain above the support level. But I expected a breakout of the support level. I mentioned that the USD index would rise after touching 61.8% Fibonacci retracement. See the chart below:
Trading Activities: CLOSED TRADES: Today, I shared my trades of CAD and gold. The gold price is increasing daily basis. It breaks each resistance level. I think the gold will stop at the 1750 level. Today, both trades moved from blue to red and left a loss for me. I got an S/L hit from both trades. See the picture below:
RUNNING TRADES: Today, I buy trade in pounds. I hope the pound market will touch 200 SMA in the 4-H timeframe. Then it will give us a few pips profit from downside. I can hold it for the long term. But the price may fall as the US embassy asked their civilian to leave for Russia. So, the market can move volatility. Today, I opened a sell trade in Dow Jones. I expect a bearish trend in the 1-H timeframe at the resistance level. See the floating trade below:
GBP/USD: The GBP/USD posted a strong uptrend on the back of a bullish trend, hitting an all-time high of 1.1343, hitting the official target of 1.1330, desired in yesterday's session. Technically, today the pair managed to break through the resistance level of 1.1180. And it is turning into a support level, we see a positive trigger from the 50-day SMA, and the positive pattern continues on the chart. Thus, the possibility of continuation up is still valid. The target is 1.1410/1.1400, the first target. The strength above the indicated level increases the chances of a sustainable corrective movement. So we will wait for the next target at the 1.1500 level.
Trade Details: Symbol: GBP/USD Open Price: 1.1336 Order: Buy Take Profit: 1.1460 Stop Loss: 1.1250 Lots size: 0.50 Time: 2022-10-04 Status: running at a profit Of $22
#INDU: The Dow Jones rebounded on Wall Street with a significant gain to 29,762, trying to compose for previous losses. Technically, the RSI continues to defend the bearish trend in the 1-H timeframe. The stochastic is near the overbought zone. The daily line has stabilized above 29450 and is likely to be bearish today. If the rate remains below 29820, the first target is 29300. And a reverse from the resistance level will intensify to proceed to the next stop at 29000.
Trade Details: Symbol: #INDU Open Price: 29,813.1 Order: Sell Take Profit: 29,500.00 Stop Loss: 30,200.00 Lots size: 0.10 Time: 2022-10-04 Status: running at a loss of $5
