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[Week 13 - 2024] Trades Recap and Trade Setups

Hey Traders,

Equities manage to trade higher earlier on the week as the FEDs gave hints of potentially 3 rate cuts this year. The United States Dollar ended last week higher despite lower yield, displaying a small divergence in the market.

Core PCE Price Index is scheduled to release next Friday along with Powell speech, expect volatility on upcoming Friday.

Upcoming Economic Release:

Weekly Economic Calendar for Week 12
Credit: Time: +8 GMT

S&P500 Futures

S&P500 extends higher

The S&P500 continued to trade higher, managing to touch the 5300 price level. Trend remains strong but once again we advise to tread carefully as price remains on the extended level.

Dollar Index (DXY)

Dollar appreciate higher last week

The United Dollar Index recovered most of the recent downside move and looks to trade higher as it approach the key resistance level at 104.34. Breaking out of this key resistance level can indicate more upside movement for the Dollar, potentially trading towards the 107.0 region.

Spot Gold

Gold trades back towards support

Gold trades sideways and look to trade back towards the 2155 support region afterearlier upside movement towards 2220. If price manage to break out of the 2155 support region, it could potentially push price down towards 2100.

Trade Recap (Public Channel)

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Trade Recap (Private Channel)

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Trade Analysis / Setups

USD/JPY (Analysis 13-1)

USDJPY Analysis

Analysis: Price now trades at major resistance with possibility of retracing recent moves. Sideway pattern has already been developed and if broken out of, could indicate more downside for USDJPY.

Short opportunity: Break and retest of 150.632 region towards 148.128 as Take Profit - 1 level.


2024 Market Order Signal Accuracy Accuracy: 100% Wins: 2 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 6 Loss: 0

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Stay safe out there and safe trading!

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