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Hi Traders,
Risk on euphoria continues to spur the market on with both crude oil and US stock indices reaching new highs, closing off the week with good gains. Bitcoin has also been a hot topic as more institution buying takes place. Tread carefully and do not FOMO.
Dollar Index (DXY)
The dollar skid lower after having a fake break out and potentially looks to head back towards the 90.06 zone of support.
Spot Gold (XAU/USD)
Meanwhile gold remain trading sideways with a more bearish outlook due to lower low and lower high formed.
Trade Recap
CAD/JPY (Analysis 5-1)
Long position was closed at lesser profit as price reversed against our position while almost reaching our Take Profit-1 level.
Exclusive Trade
We then re-entered long position upon another retest confirmation at the 82.13 support region. Long position reached Take Profit-1 level region where we announced to close / partial / risk free.
EUR/USD (Analysis 6-2)
Short Position
Short position was stopped out and we informed to look out for potentially long position instead.
Long Position
Long position reached Take Profit - 1 level where we announced to close / partial / risk free.
AUD/USD (Exclusive Trade)
Long position reached Take Profit - 2 level where we announced to close / partial.
AUD/NZD (Exclusive Trade)
Long position reached Take Profit - 2 level where we announced to close / partial.
AUD/JPY (Exclusive Trade)
Long position reached Take Profit - 1 level where we announced to close / partial / risk free.
Trade Analysis / Setups
EUR/GBP (Analysis 7-1)
Long opportunity: Break and retest confirmation at 0.8830 region towards 0.8918.
Short opportunity: Break and retest confirmation at 0.8745 region towards 0.8689.
EUR/CAD (Analysis 7-2)
Long opportunity: Break and retest confirmation at 1.543 region towards 1.5502.
Short opportunity: Break and retest confirmation at 1.5381 region towards 1.532.
EUR/NZD (Analysis 7-3)
Long opportunity: Break and retest confirmation at 1.6813 region towards 1.6945.
Short opportunity: Break and retest confirmation at 1.67475 region towards 1.6672.
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Happy Lunar New Year! Wishing all of you readers good wealth and health.
Cheers to the member who managed to pack some profits this trading week.
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