Trading plan for Aug 16
The USD index rose to the highest level since June 2017 on Wednesday but then pulled back on Thursday.
Forex today: the risk-on sentiment returned
The US dollar is strengthening because trade wars’ tensions reduced. The yen is depreciating against the US dollar as risk appetite developed. During the Asian session, the pound had reached a new high since the beginning of February. However, the rise of the US dollar made the sterling to fall. The Australian dollar and the New Zealand dollar showed a good rise yesterday, however, both are weak today. The euro managed to go out the consolidation period reaching the highest level since the middle of February. Bitcoin has plunged below $8,000. The reason is hidden in the Twitter ban on the cryptocurrency adds.
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Forex traders often hear about central bank meetings which provoke rapid currency moves, but don’t know how to predict the outcomes of these events.
Trading plan for Aug 16
The USD index rose to the highest level since June 2017 on Wednesday but then pulled back on Thursday.
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