[Week 48 - 2020] Trades Recap and Trade Setups

Hey Traders,

Happy Thanksgiving for those for celebrate. Market was shorter this week but we did see some technical break for the Dollar and Gold. Stocks indices close higher on the week. We could very likely see potential for a stronger move in the next coming week.

Dollar Index (DXY)

Price has close at a new low and we are seeing a break out of this relatively long sideway movement.

XAU/USD (Spot Gold)

Price has broke out of the key support region (1860). With the optimistic development of the vaccine, expect more shift from gold towards more risk on assets.

Trade Recap

EUR/NZD (Analysis 47-2)

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

NZD/USD (Analysis 45-1)

Recap on Week 46 (Take Profit-2):

Recap on Week 47 (This Week):

Long position reached Take Profit-3 where we announced to close position fully.

USD/CAD (Analysis 46-2)

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

AUD/NZD (Analysis 46-1)

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

Trade Analysis / Setups

NZD/USD (Analysis 48-1)

Long opportunity: Reversal confirmation at 0.69665 region towards 0.7069.

Short opportunity: Break and retest confirmation at 0.68825 region towards 0.67874

AUD/JPY (Analysis 48-2)

Long opportunity: Breakout and retest confirmation at 76.955 region towards 78.36

Short opportunity: Breakout and retest confirmation at 75.79 region towards 74.215

NZD/CAD (Analysis 48-3)

High risk trade! Do not enter if does not fit your risk profile.

Short opportunity: Breakout confirmation of trend line towards 0.90195 region

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Yet another profitable week. Cheers to the member who managed to pack some profits this trading week.

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Stay safe out there and safe trading!