FX.co ★ MUNA BHAI MBBS | MUNA BHAI MBBS Treading Journal

Hello Ladies and Gentlemen! Welcome to my trading journal update. I hope you are doing well and profiting handsomely from the price action of the market. We can see that the US dollar index will continue to decline, challenging the recent low support and breaking the new level of 111.50, which will be a multi-week downtrend channel, opening the door for the bears to test the hurdle. 110.00. The primary 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. Currently, price action holds prices above 111.70, ahead of the 38.8% Fibonacci retirement level at 110.60 and the weekly and daily pivot points at 110.20. On the upside, bullish strength will confirm a break above the 112.90 resistance and a resumption of previous highs around 113.60. Weekly bonus updated:

Important economic data: Today, the USD-denominated "JOLTS Job Openings" high-affected schedule and this major news event will drive US indices and related pairs.

Close Trade: As you know, I placed a buy trade on the EURUSD pair and the price broke the last resistance level, moving sharply in the 0.9844 range, after which the rally could hit the lower bound of 0.9800. I closed all these positions with a short-term profit of $4 and get an additional confirmation signal to hold the price above 0.9990; when this upper limit of convergence exceeded, the bullish force will resume the bullish trend around 1.0234. On the downside, high-affected news data will react negatively if major sellers refuse to raise the base. Immediate support at 0.9680 will be in line with weekly close pivot resistance at 0.9400 this weekend.

GOLD: Gold price reached a bullish target of 1690. Technically, looking at the 4-hour chart, we see gold gaining positive momentum from the simple moving averages. Intraday trading is steady below 1695, with a lot of bearish potential. Confirmation of a break above 1695 is a condition to increase the chances of a move to 1702. Gold prices were under pressure again, around $1,660. I expect the price to decline from the 1690-95 level with a target of 1670 and 1660. I overbought stochastic and we may see some price action before turning in the daily direction. Trade Details: • Symbol: Gold • Opening price: 1689.46 • Order: Sell • Profit: 1677.00 • Stop Loss: 1702.00 • Lot size: 0.07 • Time: 2022-10-04 • Status: Lost $7