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[Week 34 - 2021] Trades Recap and Trade Setups

Updated: Apr 4, 2023

Hey Traders,


Throughout the week, market has been on risk aversion as the FEDs continue to push away any hints of tapering. Stock indices were down earlier on the week but recovered some grounds whereas the Dollar dominated most of the sessions.


Upcoming Economic Release:

Weekly Economic Calendar for Week 34
Credit: ForexFactory.com Time: +8GMT


Dollar Index (DXY)

Dollar breaks above recent high and descending trend line

Price had no retest confirmation and continued to push upwards, breaking through the descending trend line towards the 94.0 resistance region.



Spot Gold (XAU/USD)

Gold forms a descending triangle

Gold struggles to keep the bull momentum and trade within the descending triangle. A breakout of either side could confirm the next direction of price.



Trade Recap


USD/CAD (Analysis 31-1)

USDCAD Analysis

Recap (Week 31 - 3 Week Ago) Take Profit - 1

USDCAD reached Take Profit (1) level

Recap (Week 33 - Last Week) Take Profit - 5

USDCAD reached Take Profit (5) level

Long position reached Take Profit - 5 level where we announced to close fully.



GBP/JPY (Exclusive Trade)

GBPJPY Analysis

Recap (Week 33 - Last Week) Take Profit - 5

GBPJPY reached Take Profit (5) level

Short position reached Take Profit - 5 level where we announced to close / partial.


AUD/USD (Analysis 28-1)

AUDUSD Analysis

Recap (Week 28 - 6 Weeks Ago) Take Profit - 1

AUDUSD reached Take Profit (1) level

Recap (Week 33 - Last Week) Take Profit - 3

AUDUSD reached Take Profit (3) level

Short position reached Take Profit - 3 level where we announced to close fully.



XAU/USD (Analysis 33-1)

XAUUSD Analysis

Recap (Week 33 - Last Week) Take Profit - 1

XAUUSD reached Take Profit (1) level

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



WTI Crude (Exclusive Trade)

WTI Futures Analysis

Recap (Week 33 - Last Week) Stopped

WTI Futures Stopped

Long at market position got stopped out.



Trade Analysis / Setup


EUR/USD (Analysis 34-1)

EURUSD Analysis

Short opportunity: Reversal confirmation at 1.17275 region or descending trend line towards 1.16500.



CAD/JPY (Analysis 34-2)

CADJPY Analysis

Long opportunity: Break and retest confirmation at 85.70 region towards 86.58.



Copper Futures (Analysis 34-3)

Copper Futures Analysis

Long opportunity: Break and retest confirmation at 4.1010 region or ascending trend line towards 4.1855.


Short opportunity: Upon breakout confirmation of ascending trend line towards 3.9730.



 

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


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


Stay safe out there and safe trading!

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