FX.co ★ The Faster Trading Journal

Good afternoon, respected forum fellows, traders, and readers from all over the world. How are you? The weekend is over, and the live market has opened. Anyway, we observed less momentum since the start of the week, which remained enforced over the week, but I expect a volatile trading day unless the market closes. The greenback has leaped to another 19th-year previous peak in the financial markets. I expect the US dollar will continue to appreciate the bullish trend for a long accompanied by fundamental factors like global inflation and the Russo-Ukraine war. Today News Today we have a lot of economic events, but all have a minimal impact except a few. Still, I predict an impactful trading day, not much, but a little more. We have two important economic events, including Prelim UOM Consumer Sentiment and Bailey Gov Speaks. However, I believe the tone will be dovish during the speech, which might drive the US dollar to the closest psychological boundary of 103.00 easier.

CLOSED TRADE: Yesterday, I shared both trades on the above posts. Today, I faced a loss because the prices didn’t move according to my strategy, which I shared in my journal. But there are two days remaining to close the market. I hope I will cover these losses within two days.

RUNNING TRADES: Today, I opened the trades in CAD and JPY. I faced a loss from the last transactions. But this time, I hope I will make a profit. Let’s see what happens.

USDCAD Today I prefer USDCAD to talk about current trade. I set a buy trade on it with a maximum size of 0.01. Market price has gone out of the uptrend line and now clearly signals that the market price is growing. The price was built below the 1.2832 area and rose sharply. The price rose above the resistance level of 1.3030 and reached the bullish zone. A continuous break above the resistance area of 1.2900 and a simple moving average of 100 hours. In addition, the euro price has broken above the bearish, bearish resistance line near 1.315 on the H1 chart.