[Week 04 - 2021] Trades Recap and Trade Setups

Hey Traders,

Last week we had a great US PMI result however the most asset classes is relatively quiet as they trade side ways. The strong PMI was a strong signal that the US economy is still wrong despite the pandemic.

Dollar Index (DXY)

The dollar continues trading within the range of 90.06 and 90.58 region. A inverse head and shoulders pattern has begun to form and a breakout towards the upside can spur huge price movements.

Spot Gold (XAU/USD)

Gold is range bound wthin the 1823 and 1860 region with a small bullish bias.

Trade Recap

EUR/JPY (Exclusive Trade)

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

EUR/NZD (Exclusive Trade)

Long at market position reached Take Profit - 1 level where we announced to close fully.

NZD/CAD (Exclusive Trade)

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

CAD/JPY (Exclusive Trade)

Long at market position closed at reduce level as price exhibit strong bearish signals.

Trade Analysis / Setups

CAD/JPY (Analysis 4-1)

Short opportunity: Break and retest of 81.28 support region towards 80.56

EUR/JPY (Analysis 4-2)

Long opportunity: Retest confirmation of 126.055 support region towards 126.65

GBP/NZD (Analysis 4-3)

Long opportunity: Break and retest confirmation of 1.9074 resistance region towards 1.91945.

Short opportunity: Break and retest confirmation of 1.89975 support region towards 1.89055.

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Cheers to the member who managed to pack some profits this trading week from the market level trades.

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