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[Week 33 - 2021] Trades Recap and Trade Setups

Updated: Sep 20

Hey Traders,


Last week, the consumer sentiment sent the market in disarray as the number reported was significantly lower. With growth shown in the market and improvement of unemployment rate, the market is in confusion and still await for more information for cue on the economy, especially since we have a heavy calendar next week.


Upcoming Economic Release:

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



Dollar Index (DXY)

Price failed to push higher and dipped from the 93.2 region. A retest confirmation at the 92.737 region could signal more downward pressure of the dollar towards the key support area at 92.0.


Spot Gold (XAU/USD)


Gold is in a interesting spot right now as the precious metal dipped in the early session of market reopening after more digestion of the NFP release.

Price fell but reversed from the 1680 support region. We had an earlier contact of the support previously. However, last week's third touch have a significant time difference which could signal a reversal.

In addition, price broke above the 1765 resistance and we will be trying to get into a retest confirmation position. For traders who wants more confirmation, you can await the breakout of the descending trend line before getting in.


XAU/USD (Analysis 33-1)

Price movement have been small but the consumer report which weakened the dollar / strengthening of the gold gave the boost that gold needed. Short term price movement has been abiding the ascending trend line, and would be regarded as a late position. However, bearish conviction will be seen if price breaks and stay below the ascending trend line.


Long opportunity: Reversal confirmation at 1764 support region / trend line region towards 1795.



Trade Recap


NZD/CAD (Analysis 32-1)

Recap (Week 32 - Last Week) Stopped

Long position got stopped out.



Trade Analysis / Setup


EUR/USD (Analysis 33-2)

Long opportunity:

1) Reversal confirmation at 1.17625 region towards 1.18055.

2) Reversal confirmation at 1.17495 region towards 1.18055.

NZD/JPY (Analysis 33-3)

Long opportunity: Reversal confirmation at 76.92 region or trend line towards 77.40.


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


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