FX.co ★ Lifedoor | Lifedoor's - Trading journal

Hello everyone. Welcome to my trading journal update. I hope you are doing well and making a good profit from the price actions of the market. As we can see, the US dollar index will continue to fall, challenging the recent lower support and breaking through the new level of 111.50, which will be a downward channel for several weeks, opening the door for the bears to test the possible mark of 110.00. The main focus for long-term traders will remain on NFP data, which will provide clear direction for executing additional positions and taking pips from the market. For now, price action holds prices above 111.70, with a break above the 38.8% Fibonacci retracement level at 110.60, followed by a break above the weekly and daily pivot level at 110.20. On the upside, bullish strength will confirm a break above 112.90 resistance and a recovery of previous highs around 113.60. Weekly Bonus Updated:

Closed trades: As you know, I had buy trades running on the EURUSD pair, and the moving price breaches the last resistance in a massive swing over a range of 0.9844, and then rebound may tackle the lower band of 0.9800. I decided to close all these positions with a short-term profit of $4 and get an additional confirmation signal to keep holding the price above 0.9990; when surpassing this upper convergence base, buyers' strength will resume a bullish trend around 1.0234. On the downside, if dominant sellers reject the upside base and high-impact news data will give a negative response. Immediate support covering the 0.9680 will follow through with the weekly closing pivot point hurdle at 0.9400 at the end of the current week.

Today News Events: Today, the "JOLTS Job Openings" high-impact schedule for the USD currency and this major news event will fluctuate the US index and related currency pairs.

USDJPY TRADES OVERVIEW: USDJPY is hovering around 144.70, and we can see a sharp bounce from the middle of the Bollinger Bands in response to buyers reclaiming previous immediate resistance around 145.30, which will be the dominant range for buyers. An overshoot has recovered around 145.90 upward trends. I decided to enter a buy trade and wait for the US session to break the resistance above 145.50; when that resistance is broken, opening the door for the bulls to take additional gains around 146.35. On the other hand, if negative pressure results in consolidation below the neutral bottom at 143.20, further losses could bring the price sharply below 142.00. Traders need to pay attention to influential news data that will clearly indicate upcoming market moves. The MACD and RSI indicators remain bullish and trade above mid-range, pointing strongly to the next possible resistance at 147.45 before surpassing the multi-month double top resistance at 148.56.

Running Positions: