[Week 25 - 2021] Trades Recap and Trade Setups

Hey Traders,

Last week Fed's Bullard gave a more hawkish tone for the market, anticipating faster rate hike than previously anticipated. The dollar soared while gold and the stock market took a major hit. Next week, market will be keeping a lookout for Powell's speech on determine the FED's dovish or hawkish stance.

Key economic events

Fed Chair Powell Testifies (US)

EUR / GBP Flash PMI (EUR / GBP)

US Flash PMI (US)

Monetary Policy (GBP)

Dollar Index (DXY)

Last week, we discussed that a break of the 90.58 region can fuel more upside movement. After the hawkish comment, the dollar soared to the major resistance zone at 92.0 region. There is a high probability that price will retrace from here.

Spot Gold (XAU/USD)

Gold also fell sharply and now lie at support region. A breakout of this support zone can fuel downside towards the 1680 region.

Trade Recap

Spot Gold (Analysis 23-2)

Recap (Week 24 - Last Week) Stopped

Long at market open position got stopped out.

Spot Gold (Exclusive Trade)

Recap (Week 24 - Last Week) Take Profit - 1

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

GBP/NZD (Analysis 24-1)

Recap (Week 24 - Last Week) Take Profit - 2

Long position reached Take Profit - 2 level where we announced to close / partial.

Soybean Futures (Analysis 24-3)

Recap (Week 24 - Last Week) Take Profit - 2

Short position reached Take Profit - 2 level where we announced to close fully.

Trade Analysis / Setup

Spot Gold (Analysis 25-1)

Long opportunity: Break and retest confirmation of 1769.4 region towards 1797.5

EUR/JPY (Analysis 25-2)

Long opportunity: Break and retest confirmation of 131.03 region towards 131.775.

USD/CAD (Analysis 25-3)

Long opportunity: Reversal confirmation at 1.23965 region (support) or ascending trend line towards 1.24745

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

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