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[Week 37 - 2022] Trades Recap and Trade Setups

Updated: Jan 20

Hey Traders,


Equities enjoyed a strong rally, retracing a significant portion of the move it suffered from the prior week. This is also the first gain in five weeks. CPI will be the key headline everyone will be looking out for. The FEDs have been firm on their hawkish stance but a low reading can help lessen the intensity in the market.


Upcoming Economic Release:

Weekly Economic Calendar for Week 47
Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

The United States Dollar slipped towards minor support level

The United States Dollar reached a new recent high earlier the week but retraced all the move it made and fell back towards the 108.191 key short term support level. Price is still extended from the 50 exponential moving average (EMA), thus, we can expect price to trade within the current price region until further breakout confirmation.


Spot Gold (XAU/USD)

Gold trading in consolidation, awaiting for double bottom confirmation

Gold is trading sideways around the 1700 to 1730 region with possible upside potential if we have a clear breakout confirmation of the 1730 region resistance level. For downside confirmation, a breakout confirmation of 1700 support region will be critical.



Trade Recap

WTI - Active Month Contract (36-1)

WTI Analysis

Recap (Week 36 - Last Week) Take Profit - 1

WTI position reaching Take Profit - 1

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



Trade Analysis / Setups


AUD/USD (Analysis 37-1)

AUDUSD Analysis

Long opportunity: Reversal confirmation at 0.67734 support level region towards 0.68850 as Take Profit - 1 level.



EUR/JPY (Analysis 37-2)

EURJPY Analysis

Short opportunity: Breakout confirmation of 142.971 support region towards 141.439 as Take Profit - 1 level.


 

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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