Aug 7, 20221 min read

[Week 32 - 2022] Trades Recap and Trade Setups

Updated: Jan 20, 2023

Hey Traders,

Commodity prices such as corn, soybean and even crude oil fell throughout the week possibly giving more risk on attitude in the market as stock indices continue to soar. However, interest rate moved higher giving a boost in the dollar but risk on assets are not phased by it.

CPI will be the important highlight of next week as we get a sense on whether the rate increase helped in reducing inflation numbers.

Upcoming Economic Release:

Weekly Economic Calendar for Week 32 — Credit: ForexFactory.com Time: +8 GMT

Dollar Index (DXY)

Dollar Index reverses from support level

The Dollar recovered some loss last week closing the week at the resistance zone at 106.800 which was contacted twice last week. A breakout confirmation of this resistance zone can indicate more bullish momentum possibly back towards the recent high at 109.00 area.

Spot Gold (XAU/USD)

Gold continues to climb after reversal at key support level

Gold is now trading above 1750 possibly back to within the range of 1680 and 1900/2000 region. Price reached 1787 region which is a minor resistance within the range but closed off the week with a small reversal from the mentioned resistance.

Trade Recap

No Updates

Trade Analysis / Setups

AUD/USD (Analysis 32-1)