[Week 01 - 2021] Trades Recap and Trade Setups

Happy 2021 Traders! As we close off the year, S&P and Dow closed at record high with spectacular gains despite the market downturn impacted by the COVID-19. The dollar took the biggest hit in the year 2020 as impacted by risk on flow and the influx of money into the economy through the government stimulus.

Dollar Index (DXY)

The dollar continues its weakening but recovered some of it on Friday.

Spot Gold (XAU/USD)

Gold is on a short term bullish trend while trading within the 1860 to 1900 range.

Trade Recap

Corn Futures (Exclusive Trade)

Overall gain

Recap (Week 51)

Recap (Week 52)

Long position reached Take Profit-7 level where we announced to close the trade fully. A big win to close the year.

EUR/USD (Analysis 50-2)

Recap (Week 51)

Recap (Week 52)

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

Cotton No.2 Futures (Analysis 51-2)

Recap (Week 52)

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

Trade Setup / Analysis

NZD/CAD

Short opportunity: Break and retest confirmation at 0.91525 region towards 0.9097

EUR/AUD

Long opportunity: Break and retest confirmation at 1.6148 region towards 1.63075.

Short opportunity: Reversal confirmation at 1.603 region towards 1.5844.

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

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Stay safe out there and safe trading!