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Week 50 - 2020. Trades review and trade set ups

Hey Traders,


Relatively disappointing week as bad news poured in the market. No Brexit deal and no Covid stimulus deal, resulting in most pair trading sideways due to the minor shift in sentiments.


Dollar Index (DXY) - Analysis 50-1

The dollar is now trading in a range. Expect a breakout soon.


Long opportunity: Break and retest confirmation at 91.21 region towards 92 region.


Short opportunity: Break and retest confirmation at 90.58 region towards 89.32 region.


Spot Gold (XAU/USD)

Gold has started to display a head and shoulders pattern. For conservative traders this would be the entry point for you (await for break and retest confirmation).



Trade Recap


AUD/NZD (Analysis 49-3)


Short position - Stopped


Long position - Take Profit - 1 level

We passed Take Profit-1 level and announced to close / partial / risk free.


AUD/JPY (Analysis 48-2)

We reached Take Profit - 1 level and announced to closed / partial / risk free.



Trade Setups / Analysis


EUR/USD (Analysis 50-2)

Long opportunity: Break and retest confirmation at 1.2167 region towards 1.221 region.


Short opportunity: Break and retest confirmation at 1.2103 region towards 1.2008


USD/CAD (Analysis 50-3)

Long opportunity: Break and retest confirmation at 1.2833 region towards 1.2883 region.


Short opportunity: Break and retest confirmation at 1.2754 region towards 1.2706 region.


Soybean (Analysis 50-4)

Short opportunity: Break and retest confirmation at 1140 region towards 1097.5 region.


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Cheers to the member who managed to pack some profits this trading week. Despite the relatively slow market.

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Stay safe out there and safe trading!

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