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[Week 48 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

Hey Traders,


Despite the festive period, the market got hit by the bear due to the new variant of COVID-19, Omicron. Cryptocurrencies and stock indices fell sharply upon the news. Meanwhile the dollar give back some of the gain last week.


Upcoming Economic Release:

Weekly Economic Calendar for Week 48
Credit: ForexFactory.com Time: +8GMT

Dollar Index (DXY)

Dollar retraced all the gains experienced earlier on the week

The dollar strong momentum could finally meet some exhaustion, potentially falling back to the 94.65 region.



Spot Gold (XAU/USD)

Gold trades near key ascending trend line

As mentioned last week, a break of the 1845 region could see momentum towards 1820. Price broke through and found support at the ascending trendline. Price is now trading sideway, awaiting for the next potential move.


Trade Recap


USD/CAD (Analysis 44-2)

USDCAD Analysis

Recap (Week 46 - 2 week ago) Take Profit - 3

USDCAD reached Take Profit (3) level

Recap (Week 47 - Last Week) Take Profit - 5

USDCAD reached Take Profit (5) level

Long position reached Take Profit - 5 level where we announced to close / partial.



WTI Crude (Analysis 47-2)

WTI Futures Analysis

Recap (Week 47 - Last Week) Take Profit - 1

WTI Futures reached Take Profit (1) level

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



Sugar #11 (Analysis 47-3)

Sugar #11 Futures Analysis

Recap (Week 47 - Last Week) Stopped

Sugar #11 Futures stopped

Long at market position stopped out.



Trade Analysis / Setups


XAU/USD (Analysis 48-1)

XAUUSD Analysis

Long opportunity: Break and retest confirmation at 1808 region towards 1812 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 1785.5 region towards 1760.5 as Take Profit - 1 level.



AUD/USD (Analysis 48-2)

AUDUSD Analysis

Long opportunity: Break and retest confirmation 0.715 region towards 0.72275 as Take Profit - 1 level.



NZD/CAD (Analysis 48-3)

NZDCAD Analysis

Long opportunity: Break and retest confirmation at 0.87205 region towards 0.87735 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 0.8668 region towards 0.86235 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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