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[Week 07 - 2022] Trades Recap and Trade Setups

Updated: Mar 27, 2023

Hey Traders,


Through the week, the market was trying to price in how much they expect the the upcoming rate hike would be. The current outlook is at 50 basis point. Then the CPI release evidently display the rise inflation and just before the market end, the situation between Russia and Ukraine turned potentially ugly, pushing risk on assets down with the major indices closing off the week in the red.


Upcoming Economic Release:

Weekly Economic Calendar for Week 7
Credit: ForexFactory.com Time: +8 GMT


Dollar Index (DXY)

Dollar trades within the range

The Dollar Index remains range bound between 94.95 to 96.91. As the rate hike is confirmed, the market is anticipating how much basis point it is going to be increased. In addition with the potential war between Russia and Ukraine, expect the dollar to remain strong acting as a safe haven.



Spot Gold (XAU/USD)

Gold trades in consolidation

Gold pushes upward throughout the week after respecting the ascending trend line. Gold propelled after the news between Russia and Ukraine towards the recent high at 1868. Look out for any developments between Russia and Ukraine throughout the week as it may potentially push gold towards the upside as a safe haven.



Trade Recap


AUD/JPY (Analysis 5-3)

AUDJPY Analysis

Recap (Week 05 - 2 Weeks Ago) Take Profit - 1

AUDJPY reached Take Profit (1) level

Recap (Week 06 - Last Week) Take Profit - 3

AUDJPY reached Take Profit (3) level

Long position reached Take Profit - 3 level where we announced to close / partial.



Corn Futures - Front Month (Analysis 6-3)

Corn Futures Analysis

Recap (Week 06 - Last Week) Take Profit - 2

Corn Futures reached Take Profit (2) level

Long position reached Take Profit - 2 level where we announced to close / partial.



Trade Analysis / Setups


USD/JPY (Analysis 7-1)

USDJPY Analysis

Long opportunity: Break out confirmation at 115.527 region towards 116.352 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 114.993 region towards 114.268 as Take Profit - 1 level.



AUD/NZD (Analysis 7-2)

AUDNZD Analysis

Long opportunity: Break and retest confirmation at 1.07633 region towards 1.08216 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 1.07231 region towards 1.06753 as Take Profit - 1 level.



Cotton No.2 Futures (Analysis 7-3)

Cotton #2 Futures Analysis

Long opportunity: Break out confirmation at descending trend line towards 129.02 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 124.88 region towards 121.74 as Take Profit - 1 level.


 

Cheers to all our member who managed to pack some profits this trading week.


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Stay safe out there and safe trading!

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