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April 26, 2021

Trade Ideas for UJ, GOLD, SPX500

Frank Cabibi

UJ Set to Break Out, Gold Steady Climbing, SPX at All-Time Highs
4/26/2021

USD/JPY Analysis 
The Bank of Japan will report their outlook at some point today on the economy and what could happen with monetary policy going forward. The past few days has seen some decline in price as the daily candles hit a rising trend line and complete a wedge formation. It looks like UJ will have a decisive move today with a possible upside swing.
Gold Analysis 
Gold is still on a steady tear to the upside as it breaks resistance and follows a monthly trend line on the daily chart. Price is still struggling to hit above $1800 with smaller interest in the metal from investors. If technicals hold, gold will have a second chance to pass $1800.
SPX500 Analysis 
SPX500 tests all time highs again today in the wake of Tesla's big earnings report. Lots of speculation around growth stocks right now, and investors are looking for the green light on risky investments. Should we see the EV market leader beat expectations, it would be a good sign for tech stocks going forward.

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