Done for the day +0 pip

No trades today. I was meant to be bullish on the US dollar but chose to remain on the sideline. There was no clear price correlation among the major currency pairs . Their daily trends are still mixed.

Fed chairman Bernanke didn't help either. The dollar fell as he signaled more rate cuts ahead.

Buy USD for Now

News-Dollar rises as Fed rate cuts seen less aggressive

No signals taken today as the markets were generally mixed in the morning session. The dollar bearish sentiment seemed to diminish as the dollar was being supported throughout the day. I was proved right at the end of the trading day as my daily trend table has just signalled a shift in the USD dollar sentiment, i.e. from bearish to bullish, albeit very slightly (52%).

I will be extra cautious tomorrow, only considering a small position and looking to buy the US dollar when the signal is present.

Trade the News Entry on USD Non-Farm Payrolls

1.30 pm USD Lower than expected job report

No trade entry today as I didn't want to open positions which trade against the bearish USD sentiment this whole week. The poor job report just confirmed my bearish view as the dollar lost more ground after the news.