[Week 30 - 2022] Trades Recap and Trade Setups

Hey Traders,

The bond market this week is less concerned about inflation, triggering a risk on flow with the fall of the Dollar and a rise of the stock indices. There are highly impactful news release in the upcoming week such as the Consumer Confidence, FOMC and the Core PCE index. Expect high volatility with related assets.

Upcoming Economic Release:

 Dollar Index (DXY)

The Dollar broke through the trend line and fell back to short term key support level at 106.4 region. We maintain bullish bias in the Dollar as long as the support region holds. If the support does not hold, we may potentially see price fall towards 105.56 region.

 Spot Gold (XAU/USD)

As mentioned on the previous post, we expected a correction and a good position would be at the 1680 region which was what happened last week. Price is now trading back up at 1730 region and a breakout of the 1748 region can potentially indicate further upside price momentum.

Trade Recap

USD/CAD (Exclusive Trade)

Recap (Week 29 - Last Week) Take Profit - 2

Short at market position reached Take Profit - 2 level where we announced to close / partial.

EUR/USD (Analysis 29-1)

Recap (Week 29 - Last Week) Take Profit - 2

Long position reached Take Profit - 2 level where we announced to close / partial.
 

EUR/JPY (Analysis 29-2)

Recap (Week 29 - Last Week) Take Profit - 1

Long at market reopening position reached Take Profit - 1 level where we announced to close / partial / risk free.
 

Trade Analysis / Setups

WTI - Front Month Contract (Analysis 30-1)

Long opportunity: Break and retest confirmation at 97.49 region towards 104.0 as Take Profit - 1 level.

SUGAR #11 - Front Month Contract (Analysis 30-2)

Long opportunity: At market reopening towards 18.56 as Take Profit - 1 level as HIGH RISK trade.

Cheers to all our member who managed to pack some profits this trading week.

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