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[Week 28 - 2024] Trades Recap and Trade Setups

Hey Traders,

Equities has an impressive month of June and started the first week of July with an additional boost. The NASDAQ closed all the trading week higher and look like there is no stopping of momentum. US Non-farm payroll reported greater than expected numbers but unemployment rate rises, highlighting a level of divergence. With inflation problem slightly out of the way, the risk now may potentially be recession.

The upcoming week includes key releases such as US CPI and PPI. Do not forget the scheduled speech by Powell on Tuesday as well. Expect volatility.

Upcoming Economic Release:

Weekly Economic Calendar for Week 28
Credit: Time: +8 GMT

S&P500 Futures

S&P500 continues to ascend

Bullish price trend remains strong for the S&P500 in the first week of July. However, we continue to mention that price is in the extended region and is due for a correction. However, short position should only be considered when price breaks below the 4960 region.

Dollar Index (DXY)

Dollar dipped back towards key resistance

The United States Dollar fell back to below 105.5 region, back to the key support region at 104.34. However, short term bullish price movement remains intact unless price breakout of the key support level.

Spot Gold

Gold looks to trade towards the top of consolidation

Gold extends pass the mid point of the consolidation zone and look to trade back to the top of the consolidation zone, supported by the weakening of the Dollar in the prior week. However, if current momentum persist, we expect price to reverse at the resistance / top of the consolidation region.

Trade Recap (Public Channel)

No updates

Trade Analysis / Setups

EUR/CHF (Analysis 28-1)

EURCHF Analysis

Analysis: Price extends sharply in the short term and struggles upon reaching the resistance level at 0.9743 region. As bullish price movement remains, long opportunity can be identified when price trades to support level at 0.9681 region.

Long opportunity: Reverse confirmation at 0.9681 support region towards 0.9743 as Take Profit - 1 level.


2024 Market Order Signal Accuracy Accuracy: 100% Wins: 7 Loss: 0

2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 8 Loss: 0

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Stay safe out there and safe trading!

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