[Week 06 - 2021] Trades Recap and Trade Setups

Hey Traders,

Last week Non Farm Payroll (NFP) came in lower than expected and unemployment rate fell as well. However we did break new high for stock indices, and S&P looking to aim for the 4000 mark.

Dollar Index (DXY)

The dollar fell upon the NFP and unemployment news but still looking set for a bullish break out.

Spot Gold (XAU/USD) - Analysis 6-1

Gold broke out of the lower time frame but is still trading within the higher time frame consolidation period. A reversal confirmation within the range of 1823 to 1830 region could potentially push price towards 1765.

Trade Recap

EUR/JPY (Analysis 5-3)

Long position reached Take Profit -3 level where we announced to close fully.

NZD/CAD (Exclusive Trade)

Recap (Week 5) Take Profit - 3 level

Recap (This Week) Take Profit - 4 level

Long position reached Take Profit -4 level where we announced to close / partial.

GBP/JPY (Exclusive Trade)

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

USD/CHF (Exclusive Trade)

Long Position (at market level) reached Take Profit reached Take Profit -2 level where we announced to close / partial.

Trade Analysis / Setups

EUR/USD (Analysis 6-2)

Price had strong momentum towards the upside. We can expect some retracement or possible trend continuation towards the downside.

Long opportunity: Break and retest confirmation at 1.208 region towards 1.21335.

Short opportunity: Reversal confirmation at 1.20565 region towards 1.1994.

GBP/AUD (Analysis 6-3)

Short opportunity: Break and retest confirmation of 1.7791 region towards 1.76315.

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

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