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[Week 42 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

Hey Traders,


US retail sales report came in higher than expected possibly displaying the rise of inflation. Yield continue it's rise from there but there is a divergence in the market in regards to the dollar and indices. Gold on the other hand dipped despite having a good bullish run earlier the week. Expect higher volatility in the EUR and GBP with next week PMI releases.


Upcoming Economic Release:

Credit: ForexFactory.com Time: +8GMT

Dollar Index (DXY)

Dollar trades in consolidation

The dollar index continue it's range between the 93.7 region and 94.5 region.



Spot Gold (XAU/USD)

Gold reverses from descending trend line

As mentioned, Gold had a good bullish run earlier on the week but rejected the descending trend line. With the potential of increasing rates, expect to see price fall back to 1728 region before dipping to 1680 upon confirmation.



Trade Recap


WTI Crude (Analysis 37-3)

WTI Futures Analysis

Recap (Week 40 - 2 Weeks Ago) Take Profit - 4

WTI Futures reached Take Profit (4) level

Recap (Week 41 - Last Week) Take Profit - 5

WTI Futures reached Take Profit (5) level

Long position reached Take Profit - 5 level where we announced to close / partial / risk free.



AUD/JPY (Analysis 38-3)

AUDJPY Analysis

Recap (Week 40 - 2 Weeks Ago) Take Profit - 4

AUDJPY reached Take Profit (4) level

Recap (Week 41 - Last Week) Take Profit - 5

AUDJPY reached Take Profit (5) level

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



Soybean Futures (Exclusive Trade)

Soybean Futures Analysis

Recap (Week 41 - Last Week) Take Profit - 1

Soybean Futures reached Take Profit (1) level

Long at market position reached Take Profit - 1 level where we announced to close / partial / risk free.



Trade Analysis / Setups


EUR/USD (Analysis 42-1)

EURUSD Analysis

Long opportunity: Break and retest confirmation at 1.16135 region towards 1.16655 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 1.15885 region towards 1.15420 as Take Profit - 1 level.



XAU/USD (Analysis 42-2)

XAUUSD Analysis

Short opportunity: Break and retest confirmation at 1765.75 region towards 1750.05 as Take Profit - 1 level.



AUD/NZD (Analysis 42-3)

AUDNZD Analysis

Long opportunity: Buy at market reopens towards 1.0520 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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