{"id":24313,"date":"2022-12-06T09:15:18","date_gmt":"2022-12-06T09:15:18","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/us-dollar-at-a-junction-in-price\/"},"modified":"2026-03-18T11:22:19","modified_gmt":"2026-03-18T11:22:19","slug":"us-dollar-at-a-junction-in-price","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/es\/us-dollar-at-a-junction-in-price\/","title":{"rendered":"Us Dollar At A Junction In Price"},"content":{"rendered":"\n<p>Good morning, Traders!<\/p>\n\n\n\n<p>Yesterday\u2019s strong <a href=\"https:\/\/www.fxglobe.com\/gbpusd-at-four-weeks-high\/\" data-type=\"post\" data-id=\"29635\">USD<\/a> move should not be a surprise as many instruments were due for a correction. Today though, will see if the dollar\u2019s overall weakening trend is still intact.<\/p>\n\n\n\n<p>There may be little movement until the U.S. session kicks off around 1:30pm UK time.<\/p>\n\n\n\n<p>My <a href=\"https:\/\/www.fxglobe.com\/mastering-the-fast-lane-advanced-insights-into-forex-day-trading\/\" data-type=\"post\" data-id=\"30533\">trading plan<\/a> is still intact for the time being. Below are a couple of items I\u2019m anticipating opportunities on.<\/p>\n\n\n\n<p>Here are my market picks for today:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>XAUUSD (Gold), 1-hour, bullish<\/strong><\/h2>\n\n\n\n<p>The 1hr Gold chart is currently retracing down and testing support of the old (prior\/recent) highs.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/FXG_DP_APH_6Dec2022_XAUUSDH1-1024x650.png\" alt=\"\" class=\"wp-image-6312\"\/><\/figure>\n\n\n\n<p>The 4-hour timeframe is in a downtrend, while the Daily is in an uptrend, and so I am watching the 1-hour for a confirmation of a change of trend either in line with the 4-hour or Daily.<\/p>\n\n\n\n<p>There is a good chance that Gold will break higher allowing for an entry on the break of a new high on the 1-hour chart around 1776.25<\/p>\n\n\n\n<p>With a stop-loss below the recent low on this chart, this could provide a healthy reward: risk trade should price decide to head back up to the highs circa 1805.<\/p>\n\n\n\n<p>However, should price NOT break above the recent high, and instead break lower, then the likely outcome for the day is that the USD maintains its hold for another day.<\/p>\n\n\n\n<p>Traders who take partial profits when price reaches 1:1 often enjoy few losses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>S&amp;P500, 1-hour, bullish<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/FXG_DP_APH_6Dec2022_S_P.fsH4_-1024x650.png\" alt=\"\" class=\"wp-image-6322\"\/><\/figure>\n\n\n\n<p>The overall Daily uptrend is healthy, and consistent, if a little over-extended.<\/p>\n\n\n\n<p>Similar to the Gold setup above, I\u2019m waiting for price to create a fresh high on the 1-hour, which should provide a high-probability entry should price return to its highs again. (This will also be impacted by the <a href=\"https:\/\/www.thebalancemoney.com\/how-the-dollar-impacts-commodity-prices-809294\">USD<\/a>\u2019s moves today)<\/p>\n\n\n\n<p>I\u2019m now looking for a continuation of this bullish momentum to the upside.<\/p>\n\n\n\n<p>As with Gold above, traders could place their stop-loss below the recent low, only a few candles away, which then creates a good reward-to-risk setup.<\/p>\n\n\n\n<p>Taking partial-profits at 1:1 is a great way to mitigate risk, as well as targeting a realistic price point, such as a major resistance level, or 1:3 risk-to-reward point.<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, Traders! Yesterday\u2019s strong USD move should not be a surprise as many instruments were due for a correction. Today though, will see if the dollar\u2019s overall weakening trend is still intact. There may be little movement until the U.S. session kicks off around 1:30pm UK time. My trading plan is still intact for [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":13367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"USD at Price Junction | %%sitetitle%%","_seopress_titles_desc":"Analyzing the current state of the US Dollar&#039;s price and its potential impact on the market. Stay informed and make informed trading decisions.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/comments?post=24313"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media\/13367"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media?parent=24313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/categories?post=24313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/tags?post=24313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}