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: 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.

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Stay safe out there and safe trading!

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