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[Week 08 - 2022] Trades Recap and Trade Setups

Updated: Mar 27, 2023

Hey Traders,


Risk on assets struggles throughout the week with the ongoing situation between Ukraine and Russia. Both ends are trying to avoid any conflict but rebels are taking advantage of the situation and instilling fear and confusion. Gold enjoyed the risk off tone, closing off the week near $1900.


Upcoming Economic Release:

Weekly Economic Calendar for Week 08
Credit: ForexFactory.com Time: +8 GMT


Dollar Index (DXY)

Dollar trades within the range

Dollar regained some ground from the rate hike and as a safe haven. Price reversed from the 95.83 region with a potential retest the recent high again at 96.91 region.



Spot Gold (XAU/USD)

Gold trades to new high

Risk off tone boosted gold, breaking the prior high at 1868 and is looking approaching the resistance at 1910 region. Market is running on strong emotions right now due to the situation between Ukraine and Russia, so do not expect any strong pullback especially with impactful headlines.


Trade Recap


No recap for this week.



Trade Analysis / Setups


Dollar Index (Analysis 8-1)

DXY Analysis

Long opportunity: Long at market reopen towards 96.321 as Take Profit - 1 level.



NZD/CAD (Analysis 8-2)

NZDCAD Analysis

Long opportunity: Break and retest confirmation at 0.85266 region or ascending trend line towards 0.85646 as Take Profit - 1 level.



Cotton No.2 (Analysis 8-3)

Cotton #2 Analysis

Long opportunity: Reversal confirmation at 120.32 region or trend line towards 121.44 or, breakout confirmation at 121.44 region towards 123.30 as Take Profit - 1 level.


 

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Stay safe out there and safe trading!

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