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[Week 47 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

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:

Weekly Economic Calendar for Week 47
Credit: ForexFactory.com Time: +8GMT


Dollar Index (DXY)

Dollar ascend higher from neckline breakout

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)

Gold consolidates at resistance level

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)

EURUSD Analysis

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

EURUSD reached Take Profit (1) level

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

EURUSD reached Take Profit (4) level

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



USD/CAD (Analysis 44-2)

USDCAD Analysis

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

USDCAD reached Take Profit (2) level

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

USDCAD reached Take Profit (3) level

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



GBP/JPY (Analysis 45-2)

GBPJPY Analysis

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

GBPJPY reached Take Profit (1) level

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



AUD/JPY (Analysis 46-1)

AUDJPY Analysis

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

AUDJPY reached Take Profit (1) level

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



Trade Analysis / Setups


EUR/JPY (Analysis 47-1)

EURJPY Analysis

Long opportunity: Long at market reopening as High Risk trade towards 129.675 as Take Profit -1 level.



WTI Crude (Analysis 47-2)

WTI Futures Analysis

Long opportunity: Long at market reopening as High Risk trade towards 77.11 as Take Profit - 1 level.



Sugar #11 (Analysis 47-3)

Sugar #11 Futures Analysis

Long opportunity: Long at market reopening as High Risk trade towards 20.29 as Take Profit - 1 level.



Corn Futures (Analysis 47-4)

Corn Futures Analysis

Long opportunity: Reversal confirmation at 547.75 region towards 581.75 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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