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Hey Traders!
The dollar continues it's free fall throughout the whole of last week. Biden announced increase in capital tax but the stock market recovered the initial panic from the news and closed near record high. Key news to look out for next week will be the FOMC meeting happening on midweek.
Dollar Index (DXY)
The dollar continues it's descend into the previous trading range with retest confirmation and double top formation formed at 91.25 region.
Spot Gold (XAU/USD)
Gold struggles to break above the 1800 region but is still maintaining above the trend line. A break above the 1800 region could signal more upside while a movement below 1765 region would be bearish.
Trade Recap
Corn Futures (Analysis 16-3)
Recap (Week 16 - Last Week) Take Profit - 4 level
Long position reached Take Profit - 4 level where we announced to close / partial.
Spot Gold (XAU/USD) Exclusive Trade
Recap (Week 16 - Last Week) Take Profit - 2 level
Long position reached Take Profit - 2 level where we announced to close / partial.
NZD/CAD (Exclusive Trade)
Recap (Week 15 - 2 Weeks Ago) Take Profit - 2 level
Recap (Week 16 - Last Week) Take Profit - 3 level
Long position reached Take Profit - 3 level where we announced to close / partial.
EUR/USD (Exclusive Trade)
Recap (Week 16 - Last Week) Take Profit - 1 level
Long Position reached Take Profit - 1 level where we announced to close / partial / risk free.
Trade Analysis / Setups
GBP/USD (Analysis 17-1)
Long opportunity: Break and retest confirmation at 1.38875 region towards 1.39465.
GBP/JPY (Analysis 17-2)
Long opportunity: Break and retest confirmation at 149.74 region towards 150.870.
NZD/CHF (Analysis 17-3)
Long opportunity: Break and retest confirmation at 0.6584 region towards descending trend line at region 0.661.
NZD/CHF (Analysis 17-4)
Short opportunity: Break and retest confirmation at 0.65715 region towards 0.6514.
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