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Week 29 - 2021. Trades review and trade set ups

Hey Traders,


Retail sales release was stronger but was shrugged off as equities fell and closed the week in the red. The main concern right now is the delta variant. Will it cause a second wave and would vaccination able to cope before the spread goes out of control.


Upcoming Economic Release:

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



Dollar Index (DXY)

The dollar is trading sideways between the 92 and 92.7 region. A break out of the 92.7 region may signal more dollar strength towards the 94.0 region. Look out of the dollar potential strength as yield net position is now Net Long from the CFTC report.

Spot Gold (XAU/USD)

Gold has been steadily rising but fell upon the release of the retail sales. However the potential rise in yield could cause some hurt to Gold.



Trade Recap


Spot Gold (Analysis 25-1)


Recap (Week 26 - 3 Weeks Ago) Take Profit - 1


Recap (Week 28 - Last Week) Take Profit - 2

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



AUD/USD (Analysis 28-1)


Recap (Week 28 - Last Week) Take Profit - 1

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



Corn Futures (Analysis 28-2)


Recap (Week 28 - Last Week) Take Profit - 1

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



USD/CAD (Exclusive Trade)


Recap (Week 28 - Last Week) Closed Manually

Long at market position closed manually in lesser loss.



Trade Analysis / Setups


AUD/NZD (Analysis 29-1)

Long opportunity: Break and retest confirmation at 1.0586 region towards 1.0625.


Short opportunity: Break and retest confirmation at 1.5595 region towards 0.0513.



GBP/JPY (Analysis 29-2)

Long opportunity: Break and retest confirmation at 152.4 region towards 153.19.

Short opportunity: Break and retest confirmation at 151.625 region towards 150.78.



CAD/JPY (Analysis 29-3)

Long opportunity: Break and retest confirmation at 88.02 region towards 88.55.

Short opportunity: Break and retest confirmation at 87.17 region towards 86.315.



EUR/JPY (Analysis 29-4)

Long position: Long at market re-opening towards 130.148 as Take Profit-1 target.


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


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