Day 518: Inflation’s looking weak

Profit: -$1.27 Total: $339.47

The USD/JPY long trade I had yesterday was correct, I was just too early to exit. I really need to draw out every support lines and then adjust my stop loss accordingly. Today was a bad day for the dollar after the Feds shared their views on a poor outlook for our 2% inflation. The odds of a rate hike dropped to 33.6% from 43.8% and thus killed the dollar. It looks like the dollar recovery is over and the dollar bears may take over.

Day 517: Dollar hinting weakness

Profit: -$11.47 Total: $340.74

Tomorrow’s FOMC and for the majority of NY session, Dollar showed weakness. EUR/USD went higher, USD/JPY had a dip, and GBP/USD relatively stayed the same. The levels where USD/JPY and EUR/USD are at now, it looks like tomorrow will be a make it or break it for the dollar pairs. One huge mistake I made today was trying to long USD/JPY while it was going against me. I’m still looking for a recovery bounce and will long USD/JPY overnight.

Day 516: Quiet day but dollar holds up

Profit: -$16.67 Total: $352.21

It was a weird and fairly quiet Monday for both London and NY. The dollar bulls held it’s ground but wasn’t necessarily overpowering. My biggest mistake today was trying to chase trades when prices were going sideways. I also fell for an EUR/USD short trade during late Asia time, which is known for fake outs. My focus is still on EUR/USD and USD/JPY and seeing if dollar is going to survive.

Day 515: CPI fail

Profit: -$2.15 Total: $368.88

The dollar bulls couldn’t find support from the CPI data as it fell short 0.1% vs 0.2% expected. USD/JPY is off to new lows, EUR/USD looks like it broke out of it’s down trend, and the dollar overall looks very weak. I’m skeptical on longing the dollar here, if anything, I’ll look for shorting opportunities.

Day 514: USD/JPY makes a huge fall

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The dollar had a down day today giving dollar baskets a breather. Tomorrow’s CPI data for the U.S. may rescue the dollar bulls or can end this reversal. USD/JPY broke some major support which may attract more sellers. I lost a few scalps on EUR/USD shorts and the pair is recovering. Next week should be interesting for the dollar, especially the USD/JPY.

Day 513: Dollar’s holding

Profit: $2.47 Total: $371.03

Dollar’s still holding onto it’s gains which is a good sign. It’s been multiple days for the EUR/USD and other dollar pairs to keep it’s down trend. New lows are being created which shows that the dollar may have found a nice support. For now I’m going to take cautious shorts on EUR/USD and GBP/USD in hopes it’ll drop more.

Day 510: NFP brings dollar up!

Profit: -$9.91 Total: $353.28

It was such a messy unemployment day. I was sleep deprived for London and knew I didn’t want to trade during data release so I slept in until the chaos settled. After oversleeping, I woke up to a crazy market and missed the entire drop on the EUR/USD. I tried my best to long scalp the dollar but price didn’t really go up for EUR/USD. GBP/USD had a better short opportunity but I was too focused on EUR/USD. Unlucky day. I except the dollar to bounce a bit more but so far EUR/USD is recovering it’s drop.

Day 508: USD/JPY resilience

Profit: -$1.46 Total: $363.36

The dollar is still carrying it’s weight especially with the USD/JPY creeping it’s way up. The dollar bull’s attempts are still pretty weak but it’s showing some signs of growing strength. There’s some heavy BoE news for early tomorrow that’ll definitely have an affect in GBP/USD. Lets hope the markets keep it juicy.