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April 14, 2021

Trade Ideas for GU, Bitcoin, SPX500

Frank Cabibi

GU Nears Resistance, Cryptos Hit Highs on Coinbase IPO
4/14/2021

GBP/USD Analysis 
GU on the daily chart in the middle of a wedge formation. Good CPI news for USD had little effect on current price behavior, but volatility is expected to increase by Friday when we get retail sales and Powell's speech later today.
BTC/USD Analysis 
Bitcoin and other cryptos have been on fire lately in light of the Coinbase IPO, sending Bitcoin and Dogecoin well past all time highs. New support formed on the daily chart in the low 60,000s. Lots of volatility that's happening right now can end up disregarding support and resistance levels for the time being
SPX500 Analysis 
Big banks reported solid earnings this week, and the market benefitted as a result. Volatility on the SPX500 has died down in the past few days, so it looks like we're seeing some mild stability in the market and not unreal gains that spur fear.

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