Ticker tape by TradingView

Want Trade Alerts?

See all of our entries, exits, and analysis. 
Use code READER for 25% OFF!
Join VIP

May 28, 2021

Trade Ideas for GU, GOLD, SPX500

Frank Cabibi

GU Sinks as the Dollar Gains, Gold Rises, SPX Makes Double Top
5/28/2021

GBP/USD Analysis 
GU sank this morning as the USD rallies across the board on mixed news in the US. This morning showed that Core PCE Price Index beat expectations. Now this pair is stuck in between a level of support and resistance testing new highs on the 4H chart.
Gold Analysis 
Gold showing a pinbar reversal on the 4H chart suggesting that price may start rejecting the lows and candles will start moving to the upside. USD has short term strength from recent news, but overall, gold is seeing more demand. The metal will have to test $1912 again if it wants to break to new highs.
SPX500 Analysis 
SPX500 on the 1H chart came down to support after mixed news on the USD. A double top on this timeframe suggests considerable resistance, but a potential higher low will form if this latest candle can stay green. Futures were up ahead of inflation news. Investors are looking at President Biden to announce the $6 trillion budget to spend on the US economy, which could help fuel interest in the equities market.

new trade alert

Join The VIP Community!
Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Use Code "READER" for $5 OFF!
JOIN NOW

FREE broker quiz

Need Help Finding The Perfect Broker?
Take our broker quiz and find out your best broker match!
FIND A BROKER

free Trading PLan

Download Now
Create a Trading Plan Using Our FREE Template
DOWNLOAD
A Market Surge Could Be About To Happen

A potential stock market surge could be gearing to happen soon as investors and analysts stay bullish. Some analysts are calling for a bottoming-out soon where price finds itself at a key level of support. Buyers look like they are ready to step in although stuck in volatile behavior that is rocking the discipline of […]

Read More
Read This Now Before You Buy Gold

Gold flies higher today amid inflation concerns in the US and globally. Even as treasury yields hit a 2-year high, the metal jumped above a key resistance level and is looking to test another. Gold Outlook Although we are seeing considerably high gains for gold in the short term, it still seems unlikely that the […]

Read More
How Much Money Do You Need to Trade Forex?

One of the most common questions we hear from beginner traders is "How Much Money Do You Need to Trade Forex?" and our answer is: well, it depends. The amount of money you need depends on your goals as a trader. Is your goal to make a lot of money or are you going to […]

Read More

Create a Trading Plan Using Our FREE Template

DOWNLOAD FREE
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
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram