Ticker tape by TradingView

April 19, 2021

Trade Ideas for NZDJPY, GOLD, SPX500

Frank Cabibi

SPX Comes Off Highs, Gold Closes Above Major Resistance
4/19/2021

NZD/JPY Analysis 
NJ pulled back at resistance which was a falling trend line. On the daily chart, a wedge looks clear as the pair reaches the end of the triangle. Tomorrow, New Zealand will report their CPI for the quarter which is expected to .3% higher than last. This will be important to watch in the next couple days to see which direction price will break out.
Gold Analysis 
Gold did end up breaking and closing above resistance on the daily chart. This level was key in getting over that big hurdle of resistance, but competition from bitcoin looms over the heads of investors. There is hesitation in the gold market as bitcoin and crypto almost serve as safer havens than the dollar, or at least yield much more than both the dollar and gold. 
SPX500 Analysis 
Stocks come down a bit after hitting new highs. Volatility in the past couple trading days has subsided for now as the crypto market received lots of attention. Mild support still lies around $4070-4080s.

A1 Edgefinder

FLASH SALE
Take 40% off the Edge finder using code "READER"
GET ACCESS NOW

want to see what we're trading?

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
A1 Trading Podcast
We Like These Pairs For Next Week

As this week comes to a close, we are looking ahead at future setups that could be some of the best opportunities for the next several trading sessions. Here are some pairs for next week that we are looking at. EUR/JPY Recent data has shown a slow down in the German manufacturing sector. With European […]

Read More
More Downside On The SPX500 After This?

When it comes to testimonies, it's all in how you say it. Jerome Powell has to be very particular in the way he makes his statements and answers the ensuing questions. Here is what might be in store for the market in the coming days and weeks, and whether or not there will be more […]

Read More
More Upside For Yen After This

The historically 'safe' currency to hold in times of recessions is in a unique situation now with a couple factors in place. Here is why the yen is stronger today as well as some trade setups that could push its value either up or down. Weaker Yen Now, Stronger Yen Later The Bank of Japan […]

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
homescreensmartphone linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram