Hey Traders,
Santa rallied the equities market as major indices closed the week higher for 8 consecutive weeks with the S&P500 forming a new all time high. The PCE release affirms the market sentiment that inflation is reaching target which can lead to a potential pivot in rates by the FEDs.
Upcoming Economic Release:
S&P500 Futures
The S&P500 briefly formed a new all time high. This week marks the 8th week of the index closing higher and price movement remains sharp and elevated. Price can potentially retrace towards 4630 support region.
Dollar Index (DXY)
Bearish momentum continues for the United States Dollar Index as price trades below another support region at 101.575 and looks to trade towards 100.525. Long position should only be considered if price trades above the 104.34 but until then, short positions is heavily favoured.
Spot Gold
Gold reverses from minor support region at 2005 and trades towards the top of the range at 2070 region but closed the week just slightly below. Bullish bias still remains but position should only be considered when price breaks out of the key 2070 resistance region while short position should only be considered when price breaks below the 1950 support region.
Trade Recap (Public Channel)
No Updates
Trade Recap (Alumni Channel)
WTI Futures
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
USD/CAD (Analysis 52-1)
Analysis: Price reverses from key support level and could potentially trade higher. Long position can be considered if the lower time frame resistance level is breached.
Long opportunity: Break and retest confirmation at 1.33500 region towards 1.32006 as Take Profit - 1 level.
2023 Market Order Signal Accuracy Accuracy: 90.2% Wins: 37 Loss: 4 |
2023 Alumni Channel Accuracy Accuracy: 100% Wins: 4 Loss: 0 |
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Stay safe out there and safe trading!
Merry Christmas!🎄
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