A1 TRADING | Indices, Commodities, Forex, Futures
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Explore free trade ideas on forex, indices, gold, futures & more.

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Gold Daily Chart:

Price looks like it is trying to break out... Let's see if we can break/close above 2710.

Trade war concerns are mounting between China & the US, as well as restrictions on trade already forming.

- Nick
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Gold
Good news for the metal after CPI numbers came in as expected. Usually expected results are not a cause for volatility, but it brought inflation higher for the second month. With an uptick in unemployment and inflation, investors may start to get concerned over a stagflation environment. Gold broke out of a key resistance level and may test the $2,720s.
-Frank

Data from the EdgeFinder
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USOil
Oil prices rise from the lows of $66 and have been stuck within a range since September. The EdgeFinder still gives this asset a neutral score which may suggest that oil will continue to trade within this range. CPI m/m and y/y increased within expectations, but Core stayed the same. This means that food and energy prices could be impacting inflation now, but not enough to cause concern. Analysts still expect another cut this month.

Data from the EdgeFinder
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Gold fell over 1% after this PPI result. Consumer prices came in as expected yesterday which had gold do an opposite reaction from today. The Fed is still expected to cut rates, but the question is how aggressively. Seeing this mixed result may mean we won't be getting 50 bps cuts like investors in gold wanted.

Gold came down to test support on the 1D timeframe and will likely attempt a bounce. If the metal fails however, it could continue lower towards $2,660.

Data from the EdgeFinder
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GOOGL shot up this week after announcing a new product known as their quantum computer chip Willow. It was able to solve a "benchmark computation" in a few minutes and would've taken the fastest computers 10 septillion years to solve.

As a result, the stock flew 12% in only this week. Now the stock is at all time highs above $193 and is looking to push higher.
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With help from GOOGL's stock, NASDAQ is still the top performing index and the strongest score on the EdgeFinder. The fact CPI came in as expected did not make much difference at all, leaving the inflation score unchanged.

Right now the put/call ratio is lower in the greed territory suggesting that inflation data might not matter much if the Fed still plans to cut in this month's meeting. COT is majority long while retail sentiment is leaning more neutral to slight bearish.

Data from the EdgeFinder
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Data shows smart money is not done buying the NASDAQ after last week's number showed a positive change by 2.41%. There have been periods of profit taking, but it's not enough to stop the rally on the tech index.

Data from the EdgeFinder
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USDCHF signal up 90 pips ๐Ÿ“ˆ

Dollar strength continuing today, with the higher than anticipated inflation prints.

Meanwhile, the Swiss national bank chose to cut rates more than expected, by 0.50%.

Looking bullish for now!

- Nick
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The overall trend is lower from October 2022, but the rise in inflation is still concerning. There is still generally a consensus with different analysts that inflationary goals are going in line with expectations.

Data from the EdgeFinder
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๐Ÿ“Š Happy Friday, traders! You know what that meansโ€”COT Data Day!
Every Friday, the Commitment of Traders (COT) report is released, giving you insights into where big money is positioned. But letโ€™s be real: trying to interpret that data is often a headache ๐Ÿคฏ.

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The EdgeFinder simplifies the raw, messy COT data by:
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โœ”๏ธ Presenting it in an easy-to-read, visual format that anyone can understand.

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