Hey Traders,
The US stock markets recovered the losses from the previously week and experienced the best week since October 2023. Gold extended its gain as well, reaching all time higher and above the key $2,500 mark, assisted by the weakening of the United States Dollar. Commodities were broadly lower, especially in the grains market as well.
Next week economic calendar is heavy on the European region while in the US, Powell speech at Jackson Hole will be crucial.
Upcoming Economic Release:

S&P500 Futures

Earlier losses was mostly recovered from last week move as the S&P500 index closed higher for the prior week. No surprise as the bullish momentum remains strong but movement seen from the monthly time frame is still extended.
Dollar Index (DXY)

The United States Dollar Index remains weak, closing the week at the recent low again. Price has also developed a short term consolidation between 102.22 and 103.155 region. Breaking out of this consolidation can very likely indicate the next direction of the Dollar in the short to mid term.
Spot Gold

Gold extends higher trading above 2,500 mark and momentum may suggest price to continue higher. Unless price trades back to within the earlier range, short positions should not be considered.
Trade Recap (Public Channel)
No Updates
Trade Recap (Private Channel)
EUR/CHF (Week 32)

Prior week (Week 33) - Take Profit 3

Long at market reopening position reached Take Profit - 3 level where we announced to close fully.
Trade Analysis / Setups
USD/CAD (Analysis 34-1)

Analysis: Price fell after reaching key resistance level and look to trade towards the key support level. If momentum persist or strengthen, we can look to long at support level if reversal signal is present.
Long opportunity: Reversal confirmation at 1.36091 support level towards 1.36912 as Take Profit - 1 level.
2024 Market Order Signal Accuracy Accuracy: 100% Wins: 10 Loss: 0 |
2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 10 Loss: 0 |
Join our telegram channel at: https://t.me/traineetraders
Instagram: https://www.instagram.com/trainingtraders/
Facebook: https://www.facebook.com/trainingtraders
Stay safe out there and safe trading!
Comments