May 20, 2021

Trade Ideas for AJ, DOGE, GOLD

Frank Cabibi

Aussie Beats Employment Expectations, DOGE Recovers Yesterday's Losses
5/20/2021

AUD/JPY Analysis

AJ comes down to a trend line and bounces up on the 4H chart. News came out today on Australia's employment numbers which beat expectations. This bullish Aussie news could fuel a higher rally for the pair here and going into next week. The low 85.0000s range looks like heavy resistance in which it will have to close above to keep bullish momentum.

DOGE/USD Analysis

Dogecoin had a clear breakout to the downside marking a big bearish signal on the 4H chart. Since the dip in the crypto market, doge has found its way back up into the $0.40s which is a good sign for bulls, however, there is big resistance in the way at $0.45. The coin has been in a downtrend since early May, so price might be trading in that direction for the time being. Doge just needs a good technical breakout above 45 cents to start changing direction.

Gold Analysis

Gold spiked up to the $1890s before coming back to the $1870s and consolidating on the 1D chart. The only clear resistance I can see is up in the $1950s where there is a double top. But, if price can hit $1900, it will definitely catch investors' eyes who will see more demand in the metal.

A1 Edgefinder

AI- Generated Trading Setups

AI-generated bullish/bearish bias setups on forex currencies, gold, & indices.

Discount code: 'READER'

Access Now

Free

Trading Plan Template

Struggling to build a successful trading plan? Download our template to get started today!

Download

Yields Hold Steady After GDP

September 28, 2023

Frank Cabibi

No Comments

GDP numbers came in lower than expected in the US, marking the third straight drop in economic output. This is usually good news for the stock market indices and gold, however, bond yields continue to hold up above 5.1%. Here are some potential trade setups for both dollar and index longs depending on how the […]

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