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[Week 41 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

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:

Weekly Economic Calendar for Week 41
Credit: ForexFactory.com Time: +8GMT

Dollar Index (DXY)

Dollar consolidates near key resistance level

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 fail to push above resistance level

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)

WTI Futures Analysis

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

WTI Futures reached Take Profit (3) level

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

WTI Futures reached Take Profit (4) level

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


AUD/JPY (Analysis 38-3)

AUDJPY Analysis

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

AUDJPY reached Take Profit (3) level

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

AUDJPY reached Take Profit (4) level

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


Natural Gas (Analysis 39-3)

Natural Gas Futures Analysis

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

Natural Gas Futures reached Take Profit (2) level

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

Natural Gas Futures reached Take Profit (3) level

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

AUD/CAD (Analysis 38-4)

AUDCAD Analysis

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

AUDCAD reached Take Profit (4) level

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

AUDCAD reached Take Profit (5) level

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



Trade Analysis / Setups


USD/CAD (Analysis 41-1)

USDCAD Analysis

Long opportunity: Reversal confirmation at 1.24345 region towards 1.24974



XAU/USD (Analysis 41-2)

XAUUSD Analysis

Long opportunity: Break and retest confirmation at 1765.76 region towards 1794.7 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 1750 region towards 1728.4 as Take Profit - 1 level.



Soybean Futures (Analysis 41-3)

Long opportunity: Break and retest confirmation at 1261.5 region towards 1292 as Take Profit - 1 level.


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