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[Week 20 - 2022] Trades Recap and Trade Setups

Updated: Jan 20, 2023

Hey Traders,


Rising yield remains the primary concern in the market with the Dollar continued to show strength throughout the week, putting pressure on to risk-on related assets. Stock indices continued its fall but managed to recover some of the moves at the end of the week. FED members continued to stress that rates would go higher until a more neutral level is reached, indicating a level of around 2.5%.


Upcoming Economic Release:

Weekly Economic Calendar for Week 20
Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

Dollar continues to form new high

The Dollar continued its strength towards the upside and show no sign of stopping. Expect volatility next week as Powell is scheduled to speak.



Spot Gold (XAU/USD)

Gold extends loss towards next support level

Gold continued its downside throughout the week due to the pressure of the Dollar. Gold is now looking to head towards the 1782 region which is the next support region.


Trade Recap


No updates for the previous week.



Trade Analysis / Setups


AUD/USD (Analysis 20-1)

AUDUSD Analysis

Long opportunity: Place buy limit at 0.69209 when price reached 0.69699 with Take Profit - 1 at 0.70249 to close / partial / risk free.



GBP/JPY (Analysis 20-2)

GBPJPY Analysis

Short opportunity: Reversal confirmation at 159.771 region towards 155.591 as Take Profit - 1 to close / partial / risk free.


 

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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