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Hey Traders,
This week, we experienced strong market euphoria with the S&P500 and Dow breaking new highs despite yields staying on high levels. Market sure is optimistic and ignoring the rise in yield!
Dollar Index (DXY)
The dollar managed to broke out of the key resistance but it was a short lived moment as it faces a reversal. Price rejected minor support as well (highlighted in green), and we could potentially see prices pushes down further back to within the range.
Spot Gold (XAU/USD)
Price for gold remains bearish. However we may see upside movement as the 1740 region breaks out in addition with 1765 region. (with breakout of descending trend line confirmation).
Trade Recap
EUR/JPY (Analysis 9-2)
Recap (Week 9 - 2 weeks ago) Take Profit - 1 level
Recap (Week 10 - Last week) Take Profit - 2 level
Long position reached Take Profit level - 2 where we announced to closed fully.
AUD/JPY (Exclusive Trade)
Recap (Week 9 - 2 weeks ago) Take Profit - 1 level
Recap (Week 10 - Last week) Take Profit - 2 level
Long position reached Take Profit - 2 level where we announced to close / partial.
Soybean Oil Futures (Exclusive Trade)
Recap (Week 9 - 2 weeks ago) Take Profit - 3 level
Recap (Week 10 - This Week) Take Profit - 5 level
Long at market position reached Take Profit - 5 level where we announced to close / partial.
NZD/CAD (Exclusive Trade)
Recap (Week 10 - This Week) Stopped
Long at market position got stopped.
Recap (Week 10 - This Week) Take Profit 1
Long position reached Take Profit - 1 level where we announced to close / partial / risk free.
Trade Analysis / Setups
NZD/CAD (Analysis 11-1)
Short opportunity: Reversal confirmation at 0.9011 region towards ascending trend line (0.892 region - subjected to change)
GBP/USD (Analysis 11-2)
Long opportunity: Break and retest confirmation at 1.4 region towards 1.41235 region.
USD/CAD (Analysis 11-3)
Long opportunity: Break and retest confirmation at 1.2525 region towards 1.2607 region.
Short opportunity: Break and retest confirmation at 1.41745 region towards 1.23965 region.
EUR/GBP (Analysis 11-4)
Short opportunity: Break and retest confirmation at 0.8555 region towards 0.8496 region.
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