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June 18, 2021

Trade Ideas for USDCAD, GOLD, SPX500

Frank Cabibi

USD Continues to Climb, Gold Sinks
6/18/2021

USD/CAD Analysis 
UC broke above resistance after a period of consolidation on the 4H timeframe and is creating more levels of support. The dollar index continues to rise going into the market open so we could probably expect further upside today.
Gold Analysis 
This precious metal continues to get pushed lower in price now that the USD keeps getting stronger. Price is currently resting on support right now and is coming back down for a possible retest on support. A break under would be bearish for gold investors.
SPX500 Analysis 
SPX500 and equities markets fall in the US. This index made a lower low and is on support at the 200 SMA on the 4H chart. Market strength doesn't look very strong going into the morning, however, investors do still have a reason to be bullish in the markets because of the low interest rates right now and as the Fed continues to purchase assets.

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