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Week 35 - 2021. Trades review and trade set ups

Hey Traders,


Last week Fed Powell continue to ensure the market that inflation level are where the Fed wants it to be and that they would need to observe the impact of the delta variant and such would not need any near term tapering. Risk on asset continues to climb with the assurance of Powell's speech with the S&P and NASDAQ with record close.


Upcoming Economic Release:

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



S&P500

This week I will give a special analysis on the S&P500. As the FEDs continues to support the market, we have been seeing strong bullish momentum. However, it is important to note that price is now overextended and any reversion to the mean (using 50EMA as reference), we could see significant pull back or consolidation.


However, this is not saying to short the market now but to be cautious and be prepared as we look at the SPX put/call ratio, it is at a normal level.

Link (https://ycharts.com/indicators/cboe_spx_put_call_ratio)

Dollar Index (DXY)

With no signs of tapering, the dollar loses it's strength throughout the week but still between 92 and 94 region.


Spot Gold (XAU/USD)

Gold broke out of the descending trend line and we could see upside momentum towards the 1830 region.



Trade Recap


Spot Gold (Analysis 33-1)

Recap (Week 33 - 2 Weeks Ago) Take Profit - 1

Recap (Week 34 - Last Week) Take Profit - 2

Long position reached Take Profit 2 level where we announced to close / partial.



EUR/USD (Exclusive Trade)

Recap (Week 34 - Last Week) Take Profit - 1

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



Trade Analysis / Setups


AUD/JPY (Analysis 35-1)

Long opportunity: Break and retest confirmation at 80.69 region towards 81.52.

Short opportunity: Break and retest confirmation at 79.40 region towards 78.25.



CAD/JPY (Analysis 35-2)

Long opportunity: Reversal confirmation at ascending trend line / 86.975 region towards 87.385.



EUR/GBP (Analysis 34-3)

Short opportunity: Break and retest confirmation at 0.855 region towards 0.8506

AUD/NZD (Analysis 34-4)

Long opportunity: Break and retest confirmation at 1.04665 region towards 1.0502.



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


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