A1 Trading

Trade Ideas Today: AUD/CAD, Gold, SPX500

March 22, 2021
Frank Cabibi

AC, Stocks, Gold Rebound After Falling Yields
3/22/2021

AUD/CAD Analysis
AC this week makes a significant bounce back up to resistance on the 4H chart and breaking a big falling trendline. Unemployment numbers last week were better than expected as big money started moving into this pair.
Gold Analysis
Gold on the 4H chart showing a formation of a new rising trend line as price has tested this line 3 times. Gold is starting to look promising to the bulls now that we see a steady uptrend from lows from 2020. One thing to look for is the resistance level around 1740s paired with the 200 SMA on the 4H chart. A break in this level could cause a lot of momentum to the upside. If not, price could find support on the rising trend line.
SPX500 Analysis
Treasury yields fell today from a high of 1.72% to 1.68% which caused stocks to rise once again. Here on the 1D chart, the SPX500 bounced off some support in the high 3800s, but is tested by the highs again. That all time high is also serving as a higher high, breaking the potential wedge formation that could've been formed by a lower high, so it seems that price wants to continue its uptrend and possibly hit another high.

The EdgeFinder

All-in-one Fundamental Dashboard

30 Days Access

Free Telegram

Join for daily analysis and trade setups!

Join Telegram

DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals

A1 Trading Company

A1 Trading is a leading financial analysis and trading education company dedicated to empowering traders of all levels. Our team combines extensive market knowledge with cutting-edge technology to provide valuable insights and tools for traders worldwide.
2024 All Rights Reserved | A1 Trading Company
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonecross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram