Updated: Mar 27
The tension between Russia and Ukraine caused a huge volatility in the market. It was strong risk off earlier on the week but moves are retraced ending off the week. S&P500 even closed the week higher while Gold traded lower.
Upcoming Economic Release:
Dollar Index (DXY)
The Dollar is a risk off asset (safe haven) and increased in value earlier on the week. However, a huge portion was erased, trading back the consolidation range between 95.83 and 96.91.
Spot Gold (XAU/USD)
Being a risk off asset, Gold also spiked earlier on the week but closed off the week lower. We now have a huge pin bar and has traded below 1910 region. A break below 1868 region could potentially push prices lower.
Dollar Index (Analysis 8-1)
Recap (Week 08 - Last Week) Take Profit - 3
Long at market position reached Take Profit - 3 level where we announced to close / partial.
NZD/CAD (Analysis 8-2)
Recap (Week 08 - Last Week) Take Profit - 2
Long position reached Take Profit - 2 level where we announced to close / partial.
Corn Futures - Front Month (Analysis 6-3)
Recap (Week 06 - 3 Weeks Ago) Take Profit - 2
Recap (Week 08 - Last Week) Take Profit - 4
Long position reached Take Profit - 4 level where we announced to close / partial.
Trade Analysis / Setups
GBP/USD (Analysis 9-1)
Long opportunity: Break and retest confirmation at 1.3438 region towards 1.35135 as Take Profit - 1 level.
Short opportunity: Break and retest confirmation at 1.33695 region towards 1.32753 as Take Profit - 1 level.
Soybean May Contract (Analysis 9-2)
Long opportunity: Reversal confirmation at 1563.75 region towards 1625.5 as Take Profit - 1 level.
WTI Front Month Contract (Analysis 9-3)
Long opportunity: At market reopens towards 94.57 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!