[Week 28 - 2021] Trades Recap and Trade Setups

Hey Traders,

Last week the dollar came off strong earlier on the week but ended off softer as yield rose. Despite that, indices came off strong, ending the week with new high despite dipping on Thursday session.

Economic Release

(Credit: ForexFactory.com Time: +8GMT)

Dollar Index (DXY)

The dollar ended off the week back into the support region of 92.1 region. If support does not hold, we may see more bearish momentum in the dollar across the market.

Spot Gold (XAU/USD)

Price broke above the 1795 region but struggles to keep momentum up towards 1823 region which is the next resistance zone.

Trade Recap

GBP/USD (Analysis 27-1)

Recap (Week 27 - Last Week) Take Profit - 1

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

Trade Analysis / Setups

AUD/USD (Analysis 28-1)

Short opportunity: Reversal confirmation at 0.749 region towards 0.74155.

Corn Futures (Analysis 27-2)

Long opportunity: Long upon breakout confirmation of descending trend line towards 552.

Short opportunity: Break out and retest confirmation at 526.25 region towards 497.25.

Sugar No.11 Futures (Analysis 28-3)

Long opportunity: Break and retest confirmation at 17.83 region towards 18.75.

Short opportunity: Break and retest confirmation at 16.75 region towards 16.15.

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

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