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[Week 30 - 2022] Trades Recap and Trade Setups

Updated: Jan 20, 2023

Hey Traders,


The bond market this week is less concerned about inflation, triggering a risk on flow with the fall of the Dollar and a rise of the stock indices. There are highly impactful news release in the upcoming week such as the Consumer Confidence, FOMC and the Core PCE index. Expect high volatility with related assets.


Upcoming Economic Release:

Weekly Economic Calendar for Week 30
Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

Dollar trades at neckline support

The Dollar broke through the trend line and fell back to short term key support level at 106.4 region. We maintain bullish bias in the Dollar as long as the support region holds. If the support does not hold, we may potentially see price fall towards 105.56 region.


Spot Gold (XAU/USD)

Gold possible reversal at key support region

As mentioned on the previous post, we expected a correction and a good position would be at the 1680 region which was what happened last week. Price is now trading back up at 1730 region and a breakout of the 1748 region can potentially indicate further upside price momentum.



Trade Recap


USD/CAD (Exclusive Trade)

USDCAD Analysis

Recap (Week 29 - Last Week) Take Profit - 2

USDCAD reached Take Profit (2) level.

Short at market position reached Take Profit - 2 level where we announced to close / partial.


EUR/USD (Analysis 29-1)

EURUSD Analysis

Recap (Week 29 - Last Week) Take Profit - 2

EURUSD reached Take Profit (2) level

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


EUR/JPY (Analysis 29-2)

EURJPY Analysis

Recap (Week 29 - Last Week) Take Profit - 1

EURJPY reached Take Profit (1) level

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


Trade Analysis / Setups


WTI - Front Month Contract (Analysis 30-1)

WTI Futures Analysis

Long opportunity: Break and retest confirmation at 97.49 region towards 104.0 as Take Profit - 1 level.



SUGAR #11 - Front Month Contract (Analysis 30-2)

Sugar #11 Futures Analysis

Long opportunity: At market reopening towards 18.56 as Take Profit - 1 level as HIGH RISK trade.


 

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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