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Good day Traders! Merry Christmas to all and we are on the last week of the year! Hope all of you are doing well while benefiting off from our free content. Last week, a new strain of the COVID-19 has been found on which caused some tension on the risk on market however recovered later on the week.
Dollar Index (DXY)
Dollar is now trending in a range. With the current risk on flow, I am still expecting the dollar to continue it's fall.
XAU/USD - Spot Gold
Gold has reversed from the key area of support and could potential swing back to recent high ~1900 level.
Trade Recap
Corn Futures (Exclusive Trade)
Take Profit - 3 level (Week 48)
Take Profit - 4 level (Week 51)
Long position reached Take Profit - 4 level where we announced to close / partial.
AUD/JPY (Exclusive Trade)
Short position reached Take Profit - 1 level where we announced to close / partial / risk free.
CAD/JPY (Analysis 49-5)
Short position closed at reduced level as price showed signs of reversal (breaking previous high) so as to secure profit.
Trade Setups / Analysis
GBP/NZD (Analysis 52-1)
Price is showing signs of breaking out of resistance level of 1.908 region.
Long position: Break and retest confirmation (with possibly reversal from ascending trend line) at 1.908 region towards 1.9326.
EUR/CAD (Analysis 52-2)
Long position: Break and retest confirmation of 1.5685 region towards 1.5785.
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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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