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Hey Traders,
Commodities such as Gold, Oil and Softs etc. continues to push upwards from the uncertainty surrounding the market. The US indices was down for the week but was still up from the recent low. Situation between Russia and Ukraine remains unsettling and traders should watch out for any major development.
Upcoming Economic Release:
Dollar Index (DXY)
Safe haven like the Dollar continues to push upwards. The Dollar broke out of the short term resistance of 96.91 and broke out of the range. Expect some light retracement before the continuation and we could potentially see a rise towards 100 for the Dollar Index.
Spot Gold (XAU/USD)
Despite the pin bar that we observed last week. Gold continue to push towards the upside, while respecting the steep short term ascending trend line and closed the week near the high of the previous week.
Trade Recap
Dollar Index (Analysis 8-1)
Recap (Week 08 - 2 Weeks Ago) Take Profit - 3
Recap (Week 09 - Last Week) Take Profit - 5
Long at market position reached Take Profit - 5 level where we announced to close fully.
Corn Futures - Front Month (Analysis 6-3)
Recap (Week 08 - 2 Weeks Ago) Take Profit - 4
Recap (Week 09 - Last Week) Take Profit - 5
Long position reached Take Profit - 5 level where we announced to close fully.
Trade Analysis / Setups
AUD/JPY (Analysis 10-1)
Long opportunity: Break and retest confirmation at 85.15 region towards 86.06 as Take Profit - 1 level.
Short opportunity: Break and retest confirmation at 84.285 region towards 83.73 as Take Profit - 1 level.
NZD/CAD (Analysis 10-2)
Short opportunity: At market reopens as High Risk trade towards 0.87050 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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