CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Chart of the day - USDIDX (07.04.2021)

09:35 7 April 2021

FOMC Minutes release is the main event of the day. Document will be published in the evening at 7:00 pm BST. Investors will look for hints on whether discussion over quicker policy tightening took place or not. Fed Chair Powell continues to stress that outlook remains uncertainty amid pandemic but recent US economic data was decent. Traders should be aware that Minutes as well as Biden speech 15 minutes earlier (6:45 pm BST) may trigger additional volatility on the USD market.

Taking a look at the US dollar index (USDIDX) at the H4 interval, we can see that price dropped below the lower limit of the upward channel. Downward move was halted at the lower limit of the local market geometry. Moreover, a 100-period moving average can be found in the area and it had halted the previous correction.

Source: xStation5

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