Update: 831 @ 08.04.2021 @ 01:58 PM (GMT+6)
Greetings to traders, readers, and fellow members of this forum. During the holiday, there was some news about the USD currency and there was some positive data about the USD currency. The US Job market has added 916K jobs during March’2021. The new administration of the USA has done a good job to increase the jobs sector which has increased the average hourly earnings too. Though the news was on the holiday, we did not see any impact from the USD Index and USD traders were expecting a tremendous gap with a bullish trend from the USD Index. There was a gap with the bullish trend, but the gap was not like USD traders expected what. There was a small gap we have seen after opening the market by the last night, and it did not make any higher impact on the USD-based pair trading.
The Bonus Update:
The bonus for week-13 has updated already although this time, the authority has gifted the lower amount of bonus. The reason behind the less bonus is for all about the new bonus system that because of rejection, I did not claim for evaluation for few weeks. From now, I will do more concentration on spelling and grammar. By the way, thanks go to the mt5 forum authority and InstaForex broker for such kind of opportunity for us.
Trades Update: Closed trades with Crude Oil
The last week, I have executed a 0.02 sell order from crude oil and after the execution of my order; the market has changed its trading direction towards the bullish region. That’s not like that, I have put my order against the trend, but the trend changed instantly and I surprised to see that. Whatever the price of US Oil has pulled back towards the bearish region after the rejection from the resistance line. The price of crude oil has made a strong resistance level at the 61.73 price mark. My trade was floating with the loss after opening the market by the last Monday but after a few hours, the price has moved towards the bearish region gradually. And the price of crude oil has made the lower price at the $57.63 price mark, which is the initial support line of crude oil.
By the way, I trapped again with the lower profit that we can see the higher loss until we do not get the margin call. But we can’t see the profit for long when the profit is increasing. I have to change this habit. I could get more profit but because of emotion, I have closed my trades around $5.80 profit, although before I had some profit from silver trading. So, through the overnight trading, crude oil has done the long bearish breakout and made 2 weeks lower price. After making the support line at the $57.63 price mark, the price of crude oil has pulled back towards the bullish region and as I am writing here, the price of crude oil is trading around the $59.80 price mark. Overall, I am looking forward here a potential buying opportunity with crude oil which should trade above the $61.00 price mark by this week again.
The Withdrawal Update:
After making the profit from crude oil and silver, I have made a withdrawal request to InstaForex Finance department although nowadays; they have a smart team in the finance department that they are processing their client’s withdrawal request within a short time. I hope so that they should process the withdrawal request by today’s working hours, although there is around $30 of the amount which I have forwarded to the finance department. Thanks in advance to the InstaForex department and thank you very much mt5 forum authority to present us suck kind of trading opportunity and long live the InstaForex broker.
The Forecast of the USD Index:
Headline: The Dollar Index has moved back towards the bearish region after the speech of Joe Biden.
The US President Joe Biden has delivered his speech by the last night.
The speech of Joe Biden has affected on the price of the USD Index which has traded below the 92.30 price mark.
The price of the USD Index is waiting to break the support line 92.11 price mark.
The Dollar Index has witnessed its price towards the bearish region. If we look at the chart in the 4 hour time frame, the dollar index has pulled back to the downside. There is an initial support line at the 92.11. The Dollar Index will break the support line if it will get an extra bearish pressure from upcoming USD News. As I am writing here, the dollar index is trading around the 92.25 price mark and I am expecting the price below the 92.00 price mark before the US session today.