A1 Trading

Trade Ideas for UC, BTCUSD, SPX500

June 7, 2021
Frank Cabibi

UC Oscillates, Investors Fear Inflation
6/7/2021

USD/CAD Analysis 
UC still in heavy consolidation on the latest news shows mixed sentiment for both currencies. As of our most recent numbers for both countries, the US has a lower unemployment rate than CAD which could boost demand for the dollar. The pair formed a clear uptrend line approaching resistance at 1.21380s.
Bitcoin Analysis 
Bitcoin broke and closed underneath the wedge that formed under the 200 DMA. However, the pair did not see heavy momentum to the downside which could be a sign for further growth as a green candle takes price back to the wedge. Major support lies underneath around $30,700 and resistance at the 200 DMA.
SPX500 Analysis 
SPX500 on the 4H chart is staying above the top trend line and our trusty moving average. Investors fear inflation because that means eventually raising rates which could be as soon as this summer. Major resistance lies at $4246 where the index has touched all-time highs once.

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