Good day Traders,
Despite equites closing higher on Friday, it still closed the week in the red. Marking it the 4th consecutive red week. The dollars recovered some ground, could this mark as the reversal phase?
Previous week we discussed to hold long position until 93.9 was broken with retest confirmation. We reached TP1 level for our long position in Dollar Index (DXY) and announced to our group to close / partial / risk free. TP2 level would be at 94.85 region.
XAU/USD (Spot Gold)
Gold took a huge dive that breaks the symmetrical triangle and even fell below the recent low for a short period. We shared a potential short position if price has a retest confirmation and that price may retrace to the 1870~1880 region before falling.
EUR/JPY (Week 38 Analysis)
We shared this analysis on the previous week to look out for trade opportunity when price has breakout and retest confirmations. We took short positions and we reached TP1 level last week and announced to our telegram channel to close / take partial / risk free with TP2 level as indicated at 121.94 region.
USD/JPY (Week 38 Analysis)
We shared a high risk trade to take a short after confirmation towards the support region and a potential position after 104.85 region is broken and retested.
We reached TP2 level and announced on our telegram group to close / take partial with TP3 as indicated at region of 105.8
USD/CAD (Exclusive Trade)
Trade analysis given exclusive to our telegram channel as price surges strongly towards the upside and began to consolidate side way. We identified to take potential trades once price breaks out with retest confirmation.
Our long position reached TP1 level and announced to the group to close / take partial / risk free with TP2 level indicated at 1.3442 region.
NZD/CAD (Exclusive Trade)
Trade analysis given exclusive to our telegram channel to look out for potential position upon break and retest confirmation. We took a short position and reached we closed at near TP2 region at 0.8770 region.
GBP/NZD (Exclusive Trade)
Analysis was given exclusively last week in which we took a loss (the only loss) as we looked out for break and retest confirmation.
We then looked our for long opportunity when price break above the lower high area at 1.9387 region with retest confirmation in which we reached TP1 region and announced to our group to closed / take partial / risk free.
Reducing our initial loss for this pair.
Price is trading in a small consolidation where we can look out for position entry upon breakout and retest confirmation.
Long position: Break and retest of 1.0806 region
Short position: Break and retest of 1.0794 region
Price is respecting the ascending trend line so far where we can look for long opportunity upon the opening (High Risk) or wait for break and retest of 1.7285 region before going long.
Soybean Futures (Current contract)
Price has broke below the ascending trend line and is now consolidating. We can look for short opportunity when the support region at 998.0 is broken and retested.
Cheers to the member who managed to pack some profits this trading week.
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Stay safe out there and safe trading!