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[Week 17 - 2022] Trades Recap and Trade Setups

Updated: Jan 20, 2023

Hey Traders,


The FED member speech created a huge uproar in the market. The concern that raising interest rate may not fix the underlying issues with the economy. Risk on assets suffer and are now trading near this year's low. Expectation on the growth of the world economy is also expected to slow down.


Upcoming Economic Release:

Weekly Economic Calendar for Week 17
Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

Dollar extends its strength forming new high

The Dollar continues its rise, closing off the week at a high since March 2020. Expect strength in the dollar to continue until the FOMC release in May.



Spot Gold (XAU/USD)

Gold broke past minor support region

The strength of the Dollar resulted in the pullback of Gold, reversing after reaching near the 1999 area which we identified last week as the resistance zone. Price can potentially fall back to support level at 1915 region.



Trade Recap


AUD/JPY (Analysis 15-1)

AUDJPY Analysis

Recap (Week 15 - 2 Weeks Ago) Take Profit - 1

AUDJPY reached Take Profit (1) level

Recap (Week 16 - Last Week) Take Profit - 3

AUDJPY reached Take Profit (3) level

Long position reached Take Profit - 3 level which we announced to close / partial.



Dollar Index (Analysis 12-1)

Dollar Index Analysis

Recap (Week 14 - 3 Weeks Ago) Take Profit - 2

Dollar Index reached Take Profit (2) level

Recap (Week 16 - Last Week) Take Profit - 3

Dollar Index reached Take Profit (3) level

Long position reached Take Profit - 3 level which we announced to close / partial.



Soybean - May (Analysis 16-3)

Soybean Futures Analysis

Recap (Week 16 - Last Week) Take Profit - 1

Soybean Futures reached Take Profit (1) level

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



Trade Analysis / Setups


NZD/CAD (Analysis 17-1)

NZDCAD Analysis

Long opportunity: Break and retest confirmation at 0.84713 region towards 0.85243 as Take Profit - 1 level.



EUR/JPY (Analysis 17-2)

EURJPY Analysis

Long opportunity: Break and retest confirmation at 138.967 region towards 139.665 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 138.396 region towards 137.55 as Take Profit - 1 level.



Sugar #11 May (Analysis 17-3)

Sugar #11 Futures Analysis

Long opportunity: Reversal confirmation at 18.56 region towards 19.19 as Take Profit - 1 level.


 

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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