The Dollar is not regressing upward and making some of its losses in anticipation of Yellen reiterating the policies of a hawkish fed. Though the dollar is fundamentally strong, and for good reasons, there is a conflict in the wishes of the White House vs. The Federal Reserve. There will most likely be more downward pressure afterward as it over-extends.
HP
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It's not gonna be an easy road up, as it is going against the general st trend(3 weeks) of a weakening dollar. MA 200 right up ahead. So a few pullback expected but the thesis remains.
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FOMC meeting, finally. I think it's time to load the rocket fuel on the dollar. Inflation has picked up whether you look at CPI or the ones the fed prefers. They will confirm rate hike, I think. Lets see. This is bad for xauusd longs sitting in support area
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I'm a little dissatisfied as the targets were not hit.
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Reversed at 102 as per the idea. Didn't update.
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Closed 20% of the shorts just to have some cash for Monday. It's been paying well. Hope you got it too.
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I'm gonna close a further 40% of the original position at 100.2, lets see if I get hit. Good luck.
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Apologies for the double comment. It's looking like a H&S, lets Close at the 100-100.2 range, then we can sell the bounce up to test the broken 100, so don't just sell the breakdown, be patient and wait for a retest of the broken trend to confirm that the market sees the break as well. Patience pays, always remember that, kill the greed in you.