Fast forward 11 days. Family & work has kept me busy. I didn’t trade much during the last 10 days. I have been reading news & analysis a lot lately to keep myself updated on the latest happenings in the forex world.
First Day Analysis:
EUR/USD: All signs point to a bear market.
XAU: Also in a bearish trend.
USD: Depending on the upcoming job market report & NFP due on 7th August, I think US will increase interest rates by September, 2015. This will keep pressure on all other currencies & strengthen USD.
Target: USD 200/= for the day!
First things first!
I deposited USD 10,000/= with Pepperstone, which was made through a wire transfer. After deduction of bank charges, Pepperstone funded my account with USD 9972/=. Before I even started, I was in a loss of USD 38/=. That’s not good, right?
I immediately transferred USD 5000/= to another account. I didn’t wanted to risk it all in one single account. For now, I will just sit on those funds. Maybe, a trade or two every now and then. But nothing major. This is going to be my safety net.
24th July, 2015.