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March 31, 2021

Trade Setups for NZD/JPY, Gold, and SPX500

Frank Cabibi

Gold Bounces Back, NJ Hits Resistance
3/31/2021

NZD/JPY Analysis
NJ runs into some resistance after a strong bounce from a key support zone. Price may consolidate here on the 4H chart as the mid 77.000s and 200 SMA push against the momentum. The USD and NZD is heavily favored against the yen right now as risk-on sentiment continues.
Gold Analysis
Gold hits key support once again and recovers quickly from its current downtrend. The thing to look out for now is if price can maintain above support and not test it again. Although it is a pretty strong downtrend, the sustaining support zone is a good sign for the bulls. There are still many levels of resistance to break should price come back up.
SPX500 Analysis
Once again, the market is at all-time highs and gearing to break above. Investors are anticipating good news from Biden today and his plan on infrastructure. I think hitting the $4000 mark for the S&P will be a huge step, and market makers just waiting for a reason to get there.

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