Search

Week 32 - 2021. Trades review and trade set ups

Hey Traders,


Last week, the Non-Farm Payroll was better than expected with the previous month adjusted higher. With all the adjustments, the US added a healthy amount of jobs signalling a good recovery of the economy. In addition, unemployment rate was reduced. Overall, the dollar and the stock market gathered in strength while gold tumbled due to shift to risk on.


Upcoming Economic Release:

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



Dollar Index (DXY)

As mentioned on our previous post, the 92.0 region acts as a strong support region. As we observe this strong reversal, it is very likely that the dollar will continue it's strength given the strong report last week.



Spot Gold (XAU/USD)

As mentioned, the shift to risk on pushed Gold back towards the support region. We may observe a minor recovery / consolidation before any confirmation of any further weakening of Gold.



Trade Recap


USD/CAD (Analysis 31-1)

Recap (Week 31 - Last Week) Take Profit - 1

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

Trade Analysis / Setups


NZD/CAD (Analysis 32-1)

Long opportunity: Retest confirmation at 0.87825 region towards 0.8830.


AUD/NZD (Analysis 32-2)

Long opportunity: Break and retest confirmation at 1.0494 region towards 1.05440.


Short opportunity: Break and retest confirmation at 1.04665 region towards 1.0425.



EUR/GBP (Analysis 32-3)

Long opportunity: Break and retest confirmation at 0.850 region towards 0.85305.

WTI Crude Oil (Analysis 32-4)

Long opportunity: Break and retest confirmation at 69.88 region towards 71.83.

Short opportunity: Break and retest confirmation at 67.87 region towards 65.62.



----------------------------------------------------------------------------------------

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


Join our telegram channel at: https://t.me/traineetraders

Instagram: https://www.instagram.com/trainingtraders/

Facebook: https://www.facebook.com/trainingtraders


Stay safe out there and safe trading!

32 views0 comments

Recent Posts

See All

Hey Traders, Risk on assets continues its rise with major indices reaching a key 50% retracement level and up for the 4th consecutive week. Yield are actually up despite from the release of the CPI re

Hey Traders, Commodity prices such as corn, soybean and even crude oil fell throughout the week possibly giving more risk on attitude in the market as stock indices continue to soar. However, interest

Hey Traders, Its the month end again and we see the stock indices closed off the week in the green. The key concern right now is that the US is could be entering a stagflation as inflation rises with