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Week 47 - 2021. Trades review and trade set ups

Hey Traders,


The dollar continues its strength throughout the week in addition to the Feds members being hawkish in the near term. Both indices and gold continue to trade sideways. If the dollar continues it strength with the rise of yield, we may begin to see gold fall back in prices.


Upcoming Economic Release:

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



Dollar Index (DXY)

The dollar ended off the week strongly with a large wick. Expect price to begin trading sideways or even some retracement.



Spot Gold (XAU/USD)

As we mentioned last week, we expect gold to begin trading sideway due to the strong momentum earlier on. A breakout confirmation of the 1870 region could push price towards 1900 while a breakout confirmation of the 1845 region could push price down to 1820.

Trade Recap


EUR/USD (Analysis 44-1)


Recap (Week 45 - 2 Weeks Ago) Take Profit - 1


Recap (Week 46 - Last Week) Take Profit - 4

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



USD/CAD (Analysis 44-2)

Recap (Week 46 - Last Week) Take Profit - 2

Recap (Week 46 - Last Week) Take Profit - 3

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



GBP/JPY (Analysis 45-2)


Recap (Week 46 - Last Week) Take Profit - 1

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



AUD/JPY (Analysis 46-1)


Recap (Week 46 - Last Week) Take Profit - 1

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



Trade Analysis / Setups


EUR/JPY (Analysis 47-1)

Long opportunity: Long at market reopen towards 129.675 as high risk trade.



WTI Crude (Analysis 47-2)

Long opportunity: Long at market reopen towards 77.11 as high risk trade.



Sugar #11 (Analysis 47-3)

Long opportunity: Long at market reopen towards 20.29 as high risk trade.



Corn (Analysis 47-4)

Long opportunity: Reversal confirmation at 547.75 region towards 581.75.



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


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