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Week 34 - 2021. Trades review and trade set ups

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:

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



Dollar Index (DXY)

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 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)

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

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

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



GBP/JPY (Exclusive Trade)

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

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


AUD/USD (Analysis 28-1)

Recap (Week 28 - 6 Weeks Ago) Take Profit - 5

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

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



XAU/USD (Analysis 33-1)

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

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


WTI Crude (Exclusive Trade)

Recap (Week 33 - Last Week) Stopped

Long at market position got stopped out.



Trade Analysis / Setup


EUR/USD (Analysis 34-1)

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



CAD/JPY (Analysis 34-2)

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



Copper Futures (Analysis 34-3)

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.


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


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