Hey Traders,
The US PCE report and the stimulus from China put pressure onto the United States Dollar in the prior week. Escalation in the Middle East put some pressure near the end of the session but Gold was unfazed most likely because price is already in an elevated level.
The US Job Report is scheduled next week along with Powell speech on the US economic outlook.
Upcoming Economic Release:
S&P500 Futures
The S&P500 index momentum has slowed in the prior week albeit closing higher. Bullish momentum continue to remains strong with no sign of weakness.
Dollar Index (DXY)
The United States Dollar closed lower, breaking out of key resistance level at 100.525. Price look to trade towards 99.365. If momentum persist, we can see the Dollar being extended and long position can be considered at that point.
Spot Gold
Gold closed the week higher again and is approaching extended level as price deviation from the weekly 50 exponential moving average continue to extend. If price momentum persist, we can potentially find short opportunity when price reach the 2750 ~ 2800 region.
Trade Recap (Public Channel)
No Updates
Trade Recap (Private Channel)
WTI - Front Month (Exclusive Trade)
Prior week (Week 39) Take Profit - 2
Long at market reopening position reached Take Profit - 2 level which we announced to close fully.
Trade Analysis / Setups
Soybean - Front Month (Analysis 40-1)
Analysis: Price can be seen as extended in the weekly time frame. Short is considered as a potential short term retracement.
Short opportunity: At market reopening as high risk trade towards 1049.75 as Take Profit - 1 level.
2024 Market Order Signal Accuracy Accuracy: 100% Wins: 11 Loss: 0 |
2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 11 Loss: 0 |
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