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June 8, 2021

Trade Ideas for GBPCHF, GOLD, SPX500

Frank Cabibi

GBPCHF, Gold and SPX Gear For a Runup
6/8/2021

GBP/CHF Analysis 
GBPCHF hits the bottom trend line on the 4H chart to test support for the third time. There isn't much news out on these two currencies, so technicals are more valid here. This pair is down 0.42% on the day which is one of the most volatile moves today.
Gold Analysis 
Price staircasing upward as it breaks resistance and comes back to it for support. Next level of resistance sits around recent highs of $1916. The dollar index is rising ahead of inflation news which is hurting gold as a result in the short term. 
SPX500 Analysis 
Markets come down this morning even after bond yields fall lower. Price is nearing support on the 4H chart around $4217. This level looks to be clear support for price to cleanly bounce from on this small dip we see this morning.

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