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[Week 38 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

Hey Traders,


US equities continued to slump throughout the week. Every recovery of the upside was pushed back down at US market open sessions. Conversely, the dollar was the strongest currency throughout the week. With the increased worry of tapering, next week will be important for traders to lookout for clues on the FOMC statement.


Upcoming Economic Release:

Weekly Economic Calendar for Week 38
Credit: ForexFactory.com Time: +8GMT


Dollar Index (DXY)

Dollar ascend higher towards recent high

Dollar was the strongest currency across the board through the week as yield continue to rise, potentially reaching to the recent high at 93.5 region.



Spot Gold (XAU/USD)

Gold falls below minor support

Conversely, gold plummet as it broke the key short term support region at 1780. A break of the 1750 region may signal further bearish momentum towards the 1730 region.


Trade Recap


Copper Futures (Exclusive Trade)

Copper Futures Analysis

Recap (Week 35 - 3 Weeks Ago) Take Profit - 1

Copper Futures reached Take Profit (1) level

Recap (Week 37 - Last Week) Take Profit - 2

Copper Futures reached Take Profit (2) level

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



WTI Crude (Analysis 37-3)

WTI Analysis

Recap (Week 37 - Last Week) Take Profit - 1

WTI Futures reached Take Profit (1) level

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



EUR/USD (Exclusive Trade)

EURUSD Analysis

Recap (Week 37 - Last Week) Take Profit - 3

EURUSD reached Take Profit (3) level

Short at market position reached Take Profit - 3 level where we announced to close / partial.



Soybean Futures (Exclusive Trade)

Soybean Futures Analysis

Recap (Week 37 - Last Week) Take Profit - 1

Soybean Futures 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


Spot Gold (Analysis 38-1)

XAUUSD Analysis

Long opportunity: Break and retest confirmation at 1765 region towards 1780 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 1750 region towards 1728 as Take Profit - 1 level.


AUD/USD (Analysis 38-2)

AUDUSD Analysis

Long opportunity: Break and retest confirmation at 0.7318 region towards 0.73715 as Take Profit - 1 level.



AUD/JPY (Analysis 38-3)

AUDJPY Analysis

Long opportunity: Break and retest confirmation at 80.13 region towards 80.663 as Take Profit - 1 level, provided confirmation is above trend line.

Short opportunity: Break and retest confirmation at 79.975 region towards 79.40 as Take Profit - 1 level.



AUD/CAD (Analysis 38-4)

AUDCAD Analysis

Long opportunity: Break and retest confirmation at 0.92972 region towards 0.9334 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 0.92747 region towards 0.92414 as Take Profit - 1 level.


 

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


Join our telegram channel at: https://t.me/traineetraders


Stay safe out there and safe trading!

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