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June 10, 2021

Trade Ideas for UC, GOLD, SPX500

Frank Cabibi

USD Biggest Jump in Inflation Since 90s
6/10/2021

USD/CAD Analysis 
The US dollar sinks on mixed sentiment regarding inflation news. CPI is rising faster than ever recorded since the 90s at a 5% rise in CPI in a year and a 3.8% rise in core CPI. Price broke under its trendline on the 4H chart and looks to be forming a higher low. 
Gold Analysis 
Gold forms a wedge on the 4H after jumping on USD inflation. The mixed sentiment is due to a high rise in inflation along with the anticipation of the fed stepping in and raising rates to strengthen the USD. If the fed decides to raise rates earlier than projected, this pair might turn bearish.
SPX500 Analysis 
Markets hit ATH after trading flat in premarket from CPI numbers. This uncertainty might keep volatility on the rise for the day as we expect big swings in either direction. SPX500 nearing the top of a rising trend line on the 4H chart where price could test resistance.

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