Greetings and good afternoon to everyone. Welcome to my trading journal update. How are things going for you today? Hopefully, you'll be fine and enjoying your fourth trading day of the week. There were some high-impact news events available for the USD index yesterday, and the entire market experienced high volatility during the American session. Gold prices fell to 1842, but began to rise during the FOMC meeting and are now trading at 1850. I had floating trades in gold and GBPUSD yesterday. Unfortunately, both trades were losing money.
USD index outlook: Yesterday, we saw that the dollar index tried to rise for half of the day, reaching a weekly high of 102.41, but negative data from the FOMC meeting minutes caused the dollar index to fall and closed at 102.08. The current price movement in the USD index shows that the USD index is maintaining its bearish momentum and is heading towards 101.00.
Today's news events: Today we have some high and medium impact news available for the USD index and CAD currency. Core Retail Sales m/m and Retail Sales m/m news for the CAD has a medium impact on the market. Both news will affect the Canadian dollar's movement. Prelim GDP q/q news for the USD index has a high impact on the market and it can bring high volatility to the entire market. In the attached screenshot you can check the schedule of today's news.
Update of my running trades: GOLD: My gold trade is currently floating with a loss of 61 dollars. On the four-hour chart of gold, we can see that the gold price, after hitting the lower line of the channel, is now trying to rise, and I think it will continue to rise undefined the H4 resistance level, namely the level of 1865. So today's trading strategy is that until the price is trading above the channel, we can choose to buy.
AUDUSD: According to the D1 TF of the AUDUSD trend, we can see that AUDUSD closed with a long lower shadow after testing the support at 0.7036. As there is buying pressure, we expect the price of AUDUSD to continue to move higher. Today's trading strategy is to choose to buy AUDUSD unless the price falls below support.
