[Week 49 - 2020] Trades Recap and Trade Setups

Hey Traders,

The markets are always changing depending on the information / situation of the world economy. Non-farm payroll results were lower than expected where usually risk on would be negatively affected. However, with the situation with COVID, this worse than expected number could signal more fiscal stimulus to tackle the situation, causing risk on assets to continue it's rise. Be adaptive to the market.

Dollar Index (DXY)

As mentioned last week as we identified a break in the dollar index. Price continues its journey downwards while meeting a minor support. If we see price breaks below 90.7 we could potentially see price head towards 90.0.

XAU/USD (Spot Gold)