Updated: Jan 20
Risk on assets continues its rise with major indices reaching the key 50% retracement level and up for the 4th consecutive week. Yield are actually up despite from the release of the CPI results but risk on assets remain unfazed.
This week's upcoming CPI and FOMC will be the key highlight. Expect volatility.
Upcoming Economic Release:
Dollar Index (DXY)
The Dollar was unable to break through the 106.800 resistance and fell towards 104.734 support level. Price is attempting to go push back up again. If price manage to push above 106.8 region, we can remain bullish on the dollar.
Spot Gold (XAU/USD)
Gold's bullish momentum have slowed down and is trading just below the 1800 price level. A breakout of the 1787 support region may push price towards 1760 region.
SUGAR #11 - Front Month Contract (Analysis 30-2)
Recap (Week 32 - Last Week) Take Profit - 1
Long at market reopening position reached Take Profit - 1 level where we announced to close / partial / risk free.
Trade Analysis / Setups
NZD/CAD (Analysis 33-1)
Short opportunity: At market reopening as High Risk trade, towards 0.81847.
WTI - Front Month Contract (Analysis 33-2)
Long opportunity: Long at breakout confirmation at 92.54 region towards 93.86 as Take Profit - 1 level.
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!