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Week 41 - 2021. Trades review and trade set ups

Hey Traders,


Non-farm payroll misses expectation, coming in lower than expected. Dollar and Gold spiked higher but has traded back into the range. Indices traded back up from last week low with a more cautious tone but currency is enjoying risk on, using AUD/JPY as reference which we will show as it is one of the trades we took previous week.


Upcoming Economic Release:

(Credit: ForexFactory.com Time: +8GMT)


Dollar Index (DXY)

The dollar index is beginning the range with a minor support at 93.67 with a potential double top formation. A breakout of the minor support could fuel more downward movement towards the 93.04 region.



Spot Gold (XAU/USD)

Gold continues to trade side ways between the 1750 and 1780 region. Gold touched the 1780 region upon the release of NFP report but reverses back into the range.

Trade Recap


WTI Crude (Analysis 37-3)


Recap (Week 39 - 2 Weeks Ago) Take Profit - 3


Recap (Week 40 - Last Week) Take Profit - 4

Long position reached Take Profit - 4 level where we announced to close / partial.

AUD/JPY (Analysis 38-3)


Recap (Week 39 - 2 Weeks Ago) Take Profit - 3


Recap (Week 40 - Last Week) Take Profit - 4

Long position reached Take Profit - 4 level where we announced to close / partial.


Natural Gas (Analysis 39-3)


Recap (Week 39 - 2 Weeks Ago) Take Profit - 2


Recap (Week 40 - Last Week) Take Profit - 3

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

AUD/CAD (Analysis 38-4)


Recap (Week 39 - 2 Weeks Ago) Take Profit - 4


Recap (Week 40 - Last Week) Take Profit - 5

Long position reached Take Profit - 5 level where we announced to close fully.



Trade Analysis / Setups


USD/CAD (Analysis 41-1)

Long opportunity: Reversal confirmation at 1.24345 region towards 1.24974



XAU/USD (Analysis 41-2)

Long opportunity: Break and retest confirmation at 1765.76 region towards 1794.7.


Short opportunity: Break and retest confirmation at 1750 region towards 1728.4.



Soybean Futures (Analysis 41-3)

Long opportunity: Break and retest confirmation at 1261.5 region towards 1292.

Short opportunity: Break and retest confirmation at 1235.75 region towards 1217.


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


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