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April 2, 2021

Trade Setups for EUR/USD, XAU/USD, BTC/USD

Frank Cabibi

Bitcion Gets More Institutional Interest, Gold Rises, EU Hits Resistance
4/2/2021

EUR/USD Analysis
EU hits some more resistance on the daily chart after breaking under. This pairs downtrend seems to be more concrete now that the USD is becoming more and more favored over the euro. As expected unemployment rate numbers came out for the US which is another good sign for the currency. It will be interesting to see where this pair goes now that it has broken several levels of support.
Gold Analysis
Gold turns up for another day in the green as the US stock market is closed in observance of Good Friday. The falling trend line on this daily timeframe is definitely something to look out for since price has had a hard time with this level, but a break above seems likely. Since key support is right below and big money keeps buying in, gold looks like it has potential to climb past resistance.
BTC/USD Analysis
Bitcoin nearing all time highs once again as institutions start favoring the crypto more. With more long positions from big money, the price of bitcoin will become less volatile, and a steady rise in price can come from that. Bitcoin is known for its heavy price swings in either direction, so knowing this could potentially eliminate the huge volatility and become more attractive to big investors.

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