.png)
Hey Traders,
Elections results are out and the euphoria is kicking in for risk on assets. Friday's Non-farm payroll display yet another strong job reports and we could see some strong trends here. We anticipated huge swings and stayed off from entering new FX position for last week.
Dollar Index (DXY)
The dollar slumps as money flows towards the risk on assets. Expecting the dollar weakness to continue.
S&P500 Index
The index is now extending towards the breakout of the consolidation period. With the added euphoria in the market, we can expect price to push further making new highs.
Trade Recap
EUR/USD (Exclusive Trade)
We reached Take Profit-2 level however we announced to the group to close at near Take Profit-2 level as price retraces some pips.
Bitcoin (Exclusive Trade)
Initial analysis
Take Profit - 1 (Week 43)
Take Profit - 3 (Week 44)
Announced on our telegram group to close trade fully.
Sugar #11 (Analysis 44-1)
Reached Take Profit-1 level where we announced to close / partial / risk free.
Trade Setups
NZD/USD (Analysis 45-1)
Price is now consolidating now recent high region.
Long potential: Break and retest confirmation at 0.67875 region towards 0.6855.
Short potential: Break and retest confirmation at 0.6760 region towards 0.6722
GBP/AUD (Analysis 45-2)
Price is trading in consolidation, expecting breakout soon.
Long potential: Break and retest of 1.8125 region towards 1.8195 Short potential: Break and retest of 1.80415 region towards 1.7989
AUD/NZD (Analysis 45-3)
Price struggles to push upwards and identified a head and shoulders pattern forming.
Short potential: Break and retest confirmation at 1.0698 region towards 1.0665 region.
----------------------------------------------------------------------------------------
Cheers to the member who managed to pack some profits this trading week.
Join our telegram channel at: https://t.me/traineetraders
Instagram: https://www.instagram.com/traineetraders/
Facebook: https://www.facebook.com/traineetraders
Stay safe out there and safe trading!
Comments