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[Week 11 - 2022] Trades Recap and Trade Setups

Updated: Sep 20, 2022

Hey Traders,

Risk on jumps on the news that Putin sees positive development in Ukraine talk. However, as market shift towards inflation fears and rate hike, risk assets continues its decline closing off the week with four days in the red.

Daylight saving shift will be effective today.

Upcoming Economic Release:

(Credit: Time: +8 GMT)

Dollar Index (DXY)

As we mentioned on the previous blog post to expect some light retracement before the continuation. Last week the Dollar Index fell to the support region of 97.83 and rebounded back towards the previous week high. With the FOMC this week, we could potentially see the Dollar Index rise towards 100.0.

Spot Gold (XAU/USD)

Gold pushed passed the 2,000 but experienced a light retracement back to the support level of 1,960 region with a minor head and shoulders forming and back near the ascending trend line. Bias for Gold remains bullish and short term bearish movement should only be confirmed is price broke below the 1888 region.

Trade Recap

NZD/CAD (Analysis 10-2)

Recap (Week 10 - Last Week) Take Profit - 2

Short at market reopening position reached Take Profit - 2 level where we announced to close / partial.

Trade Analysis / Setups

EUR/JPY (Analysis 11-1)

Long opportunity: Break and retest confirmation at 128.62 region towards 130.254.

Short opportunity: Break and retest confirmation at 127.405 region towards 125.987.

XAU/USD (Analysis 11-2)

Long opportunity: Breakout confirmation at 1998.6 region towards 2051.052.

Short opportunity: Break and retest confirmation at 1960.341 region towards 1912.623.

WTI Crude (Analysis 11-3)

Long opportunity: Break and retest confirmation at 114.8 region towards 126.47 or, retest confirmation at ascending trend line towards 107.29.


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

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Stay safe out there and safe trading!

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