.png)
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:
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 reopening as High Risk trade towards 129.675 as Take Profit -1 level.
WTI Crude (Analysis 47-2)
Long opportunity: Long at market reopening as High Risk trade towards 77.11 as Take Profit - 1 level.
Sugar #11 (Analysis 47-3)
Long opportunity: Long at market reopening as High Risk trade towards 20.29 as Take Profit - 1 level.
Corn Futures (Analysis 47-4)
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.
Join our telegram channel at: https://t.me/traineetraders
Instagram: https://www.instagram.com/trainingtraders/
Facebook: https://www.facebook.com/trainingtraders
Stay safe out there and safe trading!