Jul 31, 20221 min read

[Week 31 - 2022] Trades Recap and Trade Setups

Updated: Jan 20, 2023

Hey Traders,

Its the month end again and we see the stock indices closed off the week in the green. The key concern right now is that the US is could be entering a stagflation as inflation rises with low unemployment rate. Well at least its better than hyperinflation right? The upcoming economic release is heavy. Expect volatility.

Upcoming Economic Release:

Weekly Economic Calendar for Week 31 — Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

Dollar extends losses as it broke pass neckline support

The United States Dollar Index broke pass neckline support and fell directly towards the subsequent level of support at 105.56 region which is also the previous high. The Dollar remain weak and any breakout indication of the 105.56 support region can push price towards the 103.91 region.

Spot Gold (XAU/USD)

Gold extend its rise after reversal from key support level

As the Dollar continues to weaken, Gold push towards the upside, confirming the reversal of key support region at 1680. As momentum is strong, retracement is likely where late long entries can be entered.

Trade Recap

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Trade Analysis / Setups

USD/JPY (Analysis 31-1)