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Hey Traders,
Merry Christmas! Last week, was a light economic week with the dollar continue trading in range while the stock market enjoyed an upside ride from the festive season. Next week economic calendar is light as well, expect a quiet market and I will talk to all of you in 2022! Have a great one!
Upcoming Economic Release:
Dollar Index (DXY)
The dollar continues to trade in the range between 95.8 to 96.9. Expect little difference in the dollar for the upcoming week as well due to the holiday season.
Spot Gold (XAU/USD)
Gold retraces early on the week but recovered what was lost and closed the week back at 1808 region which is one of the key resistance level. A breakout confirmation at this level can potentially push price towards the region of 1843.
Trade Recap
NZD/CAD (Analysis 50-3)
Recap (Week 50 - 2 Weeks Ago) Take Profit - 3
Recap (Week 51 - Last Week) Take Profit - 4
Long position reached Take Profit - 4 level where we announced to close fully.
AUD/JPY (Analysis 51-2)
Recap (Week 51 - Last Week) Take Profit - 2
Long position reached Take Profit - 2 level where we announced to close / partial.
EUR/JPY (Analysis 47-1)
Recap (Week 51 - Last Week) Take Profit - 1
Long at market position reached Take Profit - 1 level where we announced to close / partial / risk free.
Trade Analysis / Setups
GBP/CAD (Analysis 52-1)
Short opportunity: Break and retest confirmation at 1.71365 region towards 1.7073 as Take Profit - 1 level.
WTI Crude (Analysis 52-2)
Long opportunity: Reversal confirmation at either at the ascending trend line region or support region at 73.25 towards 75.39 as Take Profit - 1 level.
Cheers to all our member who managed to pack some profits this trading week. Join our telegram channel at: https://t.me/traineetraders Instagram: https://www.instagram.com/trainingtraders/ Facebook: https://www.facebook.com/trainingtraders Stay safe out there and safe trading!