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Week 42 - 2021. Trades review and trade set ups

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)

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



Spot Gold (XAU/USD)

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)


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


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

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



AUD/JPY (Analysis 38-3)


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

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

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



Soybean Futures (Exclusive Trade)


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

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)

Long opportunity: Break and retest confirmation at 1.16135 region towards 1.16655.


Short opportunity: Break and retest confirmation at 1.15885 region towards 1.15420.



XAU/USD (Analysis 42-2)

Short opportunity: Break and retest confirmation at 1765.75 region towards 1750.05.



AUD/NZD (Analysis 42-3)

Long opportunity: Buy at market reopens towards 1.0520.



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