Good afternoon and welcome to my trading journal, I hope you all will be fine and enjoying your trading. The dollar index was at a more than two-week low of 92.1 on Thursday after the US Federal Reserve said that the economic recovery is on track despite a rise in COVID-19 infections and that the central bank is in no rush to withdraw stimulus. Policymakers mentioned they were moving ahead with discussions about tapering stimulus but did not set a timeline.
Today's news events:
Today there are some high and medium impact news available for the USD index(Advance GDP q/q, Advance GDP Price Index q/q, Unemployment Claims, and Pending Home Sales m/m). So, be careful and check the enclosed scheduled news for better trading and make your plan according to it.
Update of my running trade-in AUD/USD:
As you know a few days ago I opened a sell trade AUD/USD which is still floating with a moderate loss. According to the above AUD/USD graph, we can see that the AUD/USD has repeatedly formed a long lower shadow in the downward channel. At present, the Australian dollar and the US dollar have reached the high of the channel. Only when the channel is broken will the upward trend of the Australian dollar and US dollar be restored. Today’s trading strategy is to break through the channel to buy, break through the failure and choose to continue to be empty. A trade through .7397 will change the main trend to up. A move through .7290 will signal a resumption of the downtrend.