[Week 12 - 2022] Trades Recap and Trade Setups

Hey Traders,

The FOMC rate hike with a expected 50bps increase but market shrugged off the market expectation. The market will be keeping their eyes on the talks that is lined up next week.

Upcoming Economic Release:

Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

The Dollar Index fell back towards to support at the 97.8 region earlier on the week but recovered a portion of the move ending off the week. The bias for the Dollar remains bullish unless the support at 97.8 region is broken.

Spot Gold (XAU/USD)

Gold strong momentum met with a decline throughout last week. Price potentially can towards the 1888 support region and if broken could signal more momentum towards the downside.

Trade Recap

NZD/CAD (Analysis 10-2)

Recap (Week 10 - Two Week Ago) Take Profit - 2

Recap (Week 11 - Last Week) Take Profit - 3

Short at market reopening reached Take Profit - 3 level where we announced to close fully.

Trade Analysis / Setups

Dollar Index (Analysis 12-1)

Long opportunity: Long at market reopening towards 99.2842 as Take Profit - 1 level.

Corn - May Futures (Analysis 12-2)

Long opportunity: Break and retest confirmation at 758.5 region towards 791 as Take Profit - 1 level.

Short opportunity: Break and retest confirmation at 730.25 region towards 701.5 as Take Profit - 1 level.

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

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