Weekly Market Wrap: Taking Profit for Euro Pair Short Trades!

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Last week we saw a pullback in the crypto market, which is expected since some counters like Ethereum have run up close to 65% since the start of the year, so even if the bull-trend is to continue, we cannot expected it to go straight up without some zig-zags along the way.

Following up from some of the Euro short trades we shared a few weeks ago, we expected weakness in the EUR relative to many other currencies, and these trades have yielded between 400 to 900 pips profits per trade! Simply awesome!

The stock markets have also started turning down after hitting our predicted major resistance levels, so we expect the week ahead to be bearish or sideways. Still not seeing any major bullish catalysts for the stock markets.

 

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For our weekly market wrap, we go through some of the trade calls and analysis from last week, which gives us valuable insights for the week ahead.

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Forex Market Highlights

USD is the strongest currency, while EUR is the weakest. If you recall our series of posts a while back, we talked about various shorting options to take advantage of the weak Euro.

 

Product: Forex
Name: Aussie Dollar vs Canadian Dollar
Ticker: AUDCAD
Exchange: N/A

Analysis: Small rising wedge (bearish) after running into major resistance at the top of the wide range.

EP: 0.938
SL: 0.953
TP: 0.918, 0.900

 

Product: Forex
Name: Euro vs Aussie Dollar
Ticker: EURAUD
Exchange: N/A

Analysis: Following up from the last post, this pair has hit our profit target, with about 900+ pips profit! ????

 

Product: Forex
Name: Euro / NZ Dollar
Ticker: EURNZD
Exchange: N/A

Analysis: Following up from the last post, this has also hit our TP, netting us another 600+ pips profit! ????

 

Product: Forex
Name: Euro vs US Dollar
Ticker: EURUSD
Exchange: N/A

Analysis: Following up from the last post, we are currently about 400+ pips in the money.

EP: 1.13 to 1.15, or on pullbacks
SL: 1.16
TP: 1.055, 0.920

 

Product: Forex
Name: New Zealand Dollar vs US Dollar
Ticker: NZDUSD
Exchange: N/A

Analysis: Bearish price action (pin bar) near the top of a trend channel, plus major resistance (blue line).

EP: 0.687 to 0.690
SL: 0.700
TP: 0.665

 

Commodities Market Highlights

Product: Commodity Index Fund
Name: iShares S&P Global Clean Energy Index Fund
Ticker: ICLN
Exchange: NASDAQ

Analysis: Following up, the ICLN has broken out of the bullish wedge, and might be started a major run up.

EP: 21 to 22, or on pullbacks
SL: 20
TP: 25 to 33

 

Stock & Bond Market Highlights

Product: US Stock Index
Name: NASDAQ 100
Ticker: US 100
Exchange: N/A

Analysis: Prices have run into resistance as expected, will we see a test of prior lows?

EP: 14689, or on pullbacks
SL: 15311
TP: 13018+

 

Crypto Market Highlights

Product: Cryptocurrency
Name: Ethereum
Ticker: ETHUSD
Exchange: N/A

Analysis: Following up, Ethereum is up 65% from its lows, and continuing to head towards the highs. Will continue to buy on pullbacks.

EP: 2000 to 2300
SL: 1900
TP: 4800+++

 

Product: Cryptocurrency
Name: Terra
Ticker: LUNAUSD
Exchange: N/A

Analysis: The breakout has taken place, so now we just need to hold on to our positions and wait!

EP: 97 to 100, or on pullbacks
SL: 87
TP: 150+

 

Click here to receive all these signals in real-time for only $67 a month! You will get 5-10 signals a day, and even taking just 1 trade the whole month can easily cover the fee, so what are you waiting for?

Good luck, and may next week bring more excellent profits!

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