[Week 12 - 2021] Trades Recap and Trade Setups

Hey Traders,

Market has been in a limbo despite after the FOMC that rate hike would not be anytime soon. Market soared after the FOMC, but returned back lower as yield continues to climb higher. The coming week is packed with Fed Talk, so keep a look out for it.

Dollar Index (DXY)

The dollar continues it range near the resistance, a good chance that the dollar may continue to strengthen unless with the conviction from the FEDs that yield will remain low.

Spot Gold (XAU/USD)

The price surge earlier this week got rejected strongly from the descending trend line. However, price continues to trade towards the trend line region, potentially looking for a breakout.

Trade Recap

USD/CAD (Analysis 11-3)

Recap (Week 11 - This Week) Take Profit - 1 level

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

AUD/JPY (Exclusive Trade)

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

Recap (Week 11 - This Week) Take Profit - 3 level

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

GBP/USD (Exclusive Trade)

Recap (Week 11 - This Week) Take Profit - 1 level

Long position reached Take Profit 1 level where we announced to close / partial / risk free.

Cotton No.2 Futures (Exclusive Trade)

Recap (Week 11 - This Week) Closed manually at lesser loss

Long at market position was closed manually at lesser loss.

Trade Analysis / Setups

EUR/USD (Analysis 12-1)

Short opportunity: Break and retest confirmation at 1.1880 region towards 1.18172.

EUR/JPY (Analysis 12-2)

Long opportunity: Break and retest confirmation at 129.87 region towards 130.3.

Short opportunity: Break and retest confirmation at 129.38 region towards 128.95.

AUD/CAD (Analysis 12-3)

Short opportunity: Break and retest confirmation at 0.9673 region towards 0.9613.

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

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