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[Week 35 - 2021] Trades Recap and Trade Setups

Updated: Apr 4, 2023

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:

Weekly Economic Calendar for Week 35
Credit: ForexFactory.com Time: +8GMT


S&P500

S&P500 overextended

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.

SPX Put-Call Ratio


Dollar Index (DXY)

Dollar fails to maintain upside momentum

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 breaks out of key descending trend line

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)

XAUUSD Analysis

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

XAUUSD reached Take Profit (1) level

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

XAUUSD reached Take Profit (2) level

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



EUR/USD (Exclusive Trade)

EURUSD Analysis

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

EURUSD reached Take Profit (1) level

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)

AUDJPY Analysis

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)

CADJPY Analysis

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



EUR/GBP (Analysis 34-3)

EURGBP Analysis

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


AUD/NZD (Analysis 34-4)

AUDNZD Analysis

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


 

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!

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