Trade Review: AUD/USD

We saw the pair make a strong move right before the US trading session and our long trade was triggered at .7764. After entry, the market did not move much as traders waited for the FOMC interest rate statement at 2:15 pm EST. As expected, we saw volatility after the report as the pair dropped and rose back up, but that was about it. Traders and the world alike are still unsure if the rate hikes will continue. It all depends on upcoming economic reports. As, for the Treasury report, China was not labeled as a “currency manipulator.” This proved to be a beneficial for the dollar. So, we did not see strong movement today for our position to hit a predetermined exit. The trade was closed at 5:00 pm EST at .7750

Lot 1: -14 pips

Lot 2: -14 pips

Total: -28 pips