A1 Trading Company

Ticker tape by TradingView

May 17, 2021

Trade Ideas for AC, GOLD, SPX500

TraderNick

AC Stuck in Downtrend, Gold Breaks Key Resistance
5/17/2021

AUD/CAD Analysis 
Aussie employment data is to come out this Wednesday with expectations of unemployment rates staying the same as last month. Recently, CAD pairs have been strong movers, and news coming out on the Buck could also add to recent volatility. Right now, AC is stuck in a downtrend on the 1D chart and touched support on the bottom falling trend line. It is likely to see price come back up to the top of the channel before continuing its downtrend.
Gold Analysis 
Gold breaking above its 200 DMA which looks more like a test than a breakout right now. Gold could be looking a little top-heavy right now, but the overall trend for the past couple months has been to the upside. So, a pullback could be likely in the short term, but then price would probably test resistance at the 200 DMA.
SPX500 Analysis 
Markets are up today after a big recovery from lows last week's inflation fears and tech sell off. New earnings reports beat expectations as investors eye the Fed's eventual attempt to curb inflation and keep interest rates low. SPX500 on the 4H chart borke above its 200 SMA and is now sitting right above it. If price comes down to test that moving average for support, it could be another buy-the-dip opportunity. 

A1 Edgefinder

#1 Market Scanner Tool
Take 10% off using code "READER"
GET ACCESS NOW
Want to See Our Trades?

Join The VIP Community!

Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Exclusive Trading Guides
Use Code "READER" for 10% OFF!
JOIN NOWJoin FREE Discord
Listen to More Episodes
Why the New FOMC Decision Matters

Yesterday, the Federal Open Market Committee (FOMC), the Federal Reserve’s policy-making body, implemented yet another 75 basis point interest rate hike. While this move was perfectly in line with market forecasts, Chair Powell’s comments following the subsequent press conference, in which he discussed the FOMC’s new set of economic projections, were significant. He continued to […]

Read More
Shocking CAD Inflation News

Statistics Canada released a surprising new batch of inflation data this morning: month-over-month CPI failed to meet market forecasts, declining by 0.3% instead of the anticipated 0.1%. Rather than being an outlier, the other measurements of CPI mostly followed suit, as both year-over-year Trimmed CPI and Median CPI likewise failed to meet expectations. Trimmed CPI’s […]

Read More
2 Paths for Aussie Bears

At 9:30 pm Eastern Time tonight, the Reserve Bank of Australia (RBA) will be publishing their latest round of monetary policy meeting minutes. While there is a chance that their intentions could come across as more hawkish than expected, they currently have little reason to be. Despite relatively low unemployment at 3.5%, steady GDP growth, […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram