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Trade Ideas for GU, GOLD, SPX500

June 11, 2021
Frank Cabibi

Dollar Finds Strength, Market Tries to Hit New Highs
6/11/2021

GBP/USD Analysis 
Governor Bailey spoke this morning causing some volatility on the pair to the downside. Price is still in a consolidation phase in between the levels 1.4102 and 1.42414. The dollar is stronger this morning, but if the fed doesn't decide to raise rates, the pound may have more bullish potential going forward.
Gold Analysis 
Gold pulls back on the 4H chart on some dollar strength this morning. Price makes a double top at $1900 which is a significant level for price to break. Support lies on a supportive trend line should price continue to fall.
SPX500 Analysis 
Markets are relatively flat this morning as the SPX500 opens at all time highs and looking to extend the rally despite inflation numbers from yesterday. On the 4H chart, the index has to break ATH to make support there, and the trend is starting to look like an ascending triangle.

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