Ticker tape by TradingView

April 12, 2021

Trade Ideas for USDCHF, GOLD, SPX500

Frank Cabibi

Trade setups on USDCHF, Gold Under Pressure
4/12/2021

USD/CHF Analysis
USDCHF on the daily chart moving into a key support zone in the .92000s. Since price has bounced off that level before, it might find demand in that area, especially in light of USD's bullish expectations this week. Further support is on the rising trend line that started back at the beginning of 2021.
Gold Analysis
Gold continues to struggle at resistance after making a higher high on the daily chart. COT reports showed a slow in long positions taken on this metal as well as an increase in demand for USD. So, it might take some time for gold to see further upside, but it is a good sign to see price sustain itself above key support in the $1600s.
SPX500 Analysis
SPX stays relatively flat this morning as investors eye earnings and await volatility. Very mild support rests around $4080, and in a strong uptrend, that level could be enough to propel price back up. If not, additional support is in the $3970-3790s range.

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