Part 1: Previous Session Review

Yesterday’s trading was controlled and close to neutral, with a small positive finish. The book closed with 6 trades, 3 wins, 3 losses, and a net result of +5.9 pips across EURGBP, GBPCHF, AUDUSD, and GBPUSD.

The main takeaway is that the session did not offer a clean directional edge. Price action was workable in spots, but follow-through was limited, especially around sterling and dollar-linked pairs. In that type of environment, the job is not to overtrade; protecting the account and taking what the market gives is more important than trying to force a large day from marginal setups.

From a structure perspective, the result was steady rather than aggressive. A flat win rate with a positive pip outcome suggests trade management did enough to keep losses contained, but it also confirms that conviction should remain measured until volatility expands with better confirmation.

Part 2: Today’s Outlook & Watchlist

The key risk event today is the high-impact USD FOMC Meeting Minutes at 14:00 UTC. This is the type of release that can shift expectations around rates, inflation tolerance, and the timing of future policy changes. Liquidity can thin before the release, and the first move after the minutes is not always the true direction.

EURUSD is the first asset on the watchlist. A more hawkish tone from the minutes would likely support the dollar and pressure EURUSD lower, especially if price is already struggling near resistance. A softer read could help the pair squeeze higher, but I would still want confirmation through market structure rather than chasing the initial spike.

XAUUSD is also worth monitoring. Gold remains sensitive to real yield expectations and USD repricing. If the minutes revive the idea of tighter policy for longer, gold could face selling pressure. If the market reads the minutes as less restrictive, gold may find support, but volatility around the release can be sharp and uneven.

Plan for today: reduce size into the event, avoid entering directly into the release unless there is a defined news strategy, and wait for spreads and candles to settle before committing capital. The best trades may come after the first reaction, once the market shows whether the dollar move has genuine follow-through.