Updated: Mar 27
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:
Dollar Index (DXY)
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 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.
AUD/JPY (Analysis 5-3)
Recap (Week 05 - 2 Weeks Ago) Take Profit - 1
Recap (Week 06 - Last Week) Take Profit - 3
Long position reached Take Profit - 3 level where we announced to close / partial.
Corn Futures - Front Month (Analysis 6-3)
Recap (Week 06 - Last Week) Take Profit - 2
Long position reached Take Profit - 2 level where we announced to close / partial.
Trade Analysis / Setups
USD/JPY (Analysis 7-1)
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)
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)
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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