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[Week 39 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

Hey Traders,


Stock indices recovered some ground as situation with Evergrande subsides at the through the week. However yield and dollar was higher but did not affect the indices movement at all despite being the biggest concern for the previous weeks. Bringing about the phrase "Market can be irrational at times" as there are different traders and investors focusing on different factors affecting the market.


Big FOMC line up next week with potential to move the market from hints of tapering.


Upcoming Economic Release:

Weekly Economic Calendar for Week 39
Credit: ForexFactory.com Time: +8GMT


Dollar Index (DXY)

Dollar trades sideways

The dollar is trading between the 93 and 93.5 region. With the rise in yield / potential tapering, we could see the dollar rise towards 94.0.


Spot Gold (XAU/USD)

Gold trades around recent low

Gold rejected the head and shoulders' neckline at 1780 and now trading at 1750. Price action could hint more bearish momentum and more traders looking at more conviction of tapering. A break of the 1728 region could signal a movement towards the 1680 region.



Trade Recap


WTI Crude (Analysis 37-3)

WTI Futures Analysis

Recap (Week 37 - 2 Weeks Ago) Take Profit - 1

WTI Futures reached Take Profit (1) level

Recap (Week 38 - Last Week) Take Profit - 2

WTI Futures reached Take Profit (2) level

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



AUD/JPY (Analysis 38-3)

AUDJPY Analysis

Recap (Week 38 - Last Week) Take Profit - 2

AUDJPY reached Take Profit (2) level

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



AUD/CAD (Analysis 38-4)

AUDCAD Analysis

Recap (Week 38 - Last Week) Take Profit - 3

AUDCAD reached Take Profit (3) level

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



Trade Analysis / Setups


GBP/JPY (Analysis 39-1)

GBPJPY Analysis

Long opportunity: Break and retest confirmation at 151.53 region towards 152.65 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 150.975 region towards 150.03 as Take Profit - 1 level.



Corn Futures (Analysis 39-2)

Corn Futures Analysis

Long opportunity: Break out confirmation at 528 region towards 536 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 525.75 region towards 514.0 as Take Profit - 1 level.



Natural Gas (Analysis 39-3)

Natural Gas Futures

Long opportunity: At market reopens as High Risk Trade towards 5.63 region 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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