Profit: $1.29 Total: $1,254.65
Yesterday, we had a sell-off in the dollar after the FOMC minutes meeting statement. I thought the market shrugged off the Fed’s hawkish demeanor and called June’s hike a bluff. However, today we were pleasantly surprised with the ongoing strength of the dollar. Things are looking pretty good for the dollar.
I wasn’t too sure whether or not dollar strength was a fake out but it ultimately finished the session strong. I took a small scalp in GBP/USD which finally collapsed after a good fight. Right now I’m pretty sold on dollar’s rally, I think it has some room to continue. Let’s hope the dollar bulls continues next week and hit new highs.