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March 15, 2021

Trade Ideas for EUR/AUD, XAU/USD, and SPX500

Frank Cabibi

Gold and SPX Test Resistance, EURAUD Short Setup
3/15/2021

EUR/AUD Analysis
EURAUD gaining some traction today on the daily chart as Aussie pulls back a little. Volatility early on in the week is leading up to the employment numbers that we will see on Wednesday. That falling trend line still looks like a decent short setup if price were to come back up and touch that level.
Gold Analysis
Gold on the daily chart is still staying off the lows after bouncing off support last Friday. It would be a good sign for the bulls if gold were to create a higher high above its most recent peak around 1740. After that, the metal still has plenty of resistance levels to test which could potentially send it back to continue its downtrend.
SPX500 Analysis
Tech stocks rise back up today as SPX500 struggles with breaking all-time highs coupled with a potential falling trend line. If the market does top out here, support around 3880 and the rising trend line starting in December of last year could be considerable zones of support.

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