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April 5, 2021

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

Frank Cabibi

Possible Head and Shoulders Forming on AJ Pair
4/5/2021

AUD/JPY Analysis
AJ pair could be making a possible head and shoulders formation here on the daily chart. This could be a sign that price wants to turn downward depending on whether the next few candles move above resistance at 85.000s or break below the rising trend line.
Gold Analysis
Gold on the daily chart comes up to test a long term falling trend line and consolidates at that level. A higher high would mean that price would break above the trend line and touch resistance at the 1760s.
SPX500 Analysis
SPX500 jumped to new highs this morning after yields dipped a little bit today. Last Friday's jobs data reported over 900K new employees for the month of March, beating expectations by around 300K. New key support now lies around the $3990s if price comes back down.

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