AUD/NZD Analysis
AUDNZD is still a strong sell on the EdgeFinder at -6. Price couldn’t make it up to resistance on the falling trend line on the 4H timeframe. The pair could be moving back down to test the lows around 1.06793 if the top part of the wedge remains untested. April has been a historically bullish month for the pair despite trend readings and retail suggesting lower moves ahead. Aussie CPI numbers come out later today which is expected to be slightly lower than last time from 7.4-7.2%.

Retail is bias towards USDCHF, NZDUSD and AUDUSD on the bull side. They are majority short GER30, USDCAD and GBPUSD. As we can see, the crowd is very mixed, partly because of the confusion in the interpretations of bank defaults and Fed plans.

Comparing unemployment between 4 currencies, EUR and CAD are struggling the most. Although UE rates are coming down over time, the US and Japan have a better handle on it. The US, however, saw an unexpected rise in UE from 3.4-3.6%. This Thursday will be another jobless claims report for the US. Claims have decreased over the last two weeks, but a rise would be concerning for the next NFP and unemployment rate numbers.

🔥 Our Gold Trade FLEW over 2000 Pips!

Trade Analysis:
“A lot of interest from the smart money crowd. Both USD and gold are seeing a growing interest in bullishness from institutions even though they are usually opposing assets. I'm liking the rejection on the 4H timeframe too which could establish a higher low. The pullback looked like some profit taking after price hit above the $2000 level. On the historical back test page from the EdgeFinder, we can see a shift from selling/neutral scores to bullish scores.

This could indicate that the uptrend on gold is more stable than a mere bear rally. We talked about in the live streams how we want to buy gold, but the run had already happened. Now that we are in a pullback zone, gold looks more promising to the upside.”

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UJ is now a neutral rating (+2) from +6 on March 9. This could be an indication of another shift in momentum. Price has been on a downtrend for a few weeks which is keeping the EdgeFinder's score from entering into the buy zone.

The yen is the most shorted asset in the market right now, according to COT reports. This is a considerable indication that the pair is still bullish. The majority of retail is behaving oppositely from smart money. On the other hand, dollar bullishness is under some pressure now that the Fed projects only one more rate hike this year.

Gold continues to rise on recent news regarding US job numbers. A higher number of unemployed in the US could probably be fueling the metal's bullish run. Price touched above $2000 and entered a flag pattern as investors took profits. Now it appears the metal is heading back towards the recent highs around $1996-2010.

Although gold isn't quite a strong buy on the EdgeFinder, it happens to be our strongest buy rating right now. With a score of +5, gold is beating the USD in most categories, excluding the interest rate and inflation category.

Looks like a potential head and shoulders on the nas100. A long top wick could be an indication of the start of a downward trend. Today's PCE came in lower than expected and the market's initial reaction was positive while the dollar fell. If we can't break above $12,970 in the next few hours, it could complete a full head and shoulders

New features on the Seasonality page for the EdgeFinder Pro: We decided to split up the charts and give you a more in depth view that targets narrower timeframes throughout the year. The new features track weekly historical performance from 10 and 5 year avg. It also tracks each day of the year. The pair we're looking at right now is EURUSD. On the 67th trading day, price has spiked on both averages. We are on the 65th trading day today. So instead of only going month to month, we broke it down to every week and every day

AUDNZD is still one of our strongest sells on the EdgeFinder. Even though smart money is equally bearish on both currencies, the score is still -6. The two are very similar currencies, so the fact that there is a strong bias to the downside from our market scanner is a big warning to the bulls.

Next month is historically the most bullish month which is also something to consider. Without keeping entries in mind, the pair has gained the most in April than any other month. However, projections suggest a move towards 1.06584 in the medium term.

Retail is largely buying USD while shorting JPY and gold. After a recent dollar sell off, the crowd is finally getting into the dollar, of which they were mostly short. Yen is short bias from both the crowd and smart money making it the weakest currency as of now.

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Gold Analysis
Gold breaks out of a wedge pattern today, but has yet to close above that level. Price has established a higher high on the 4H timeframe, so a run higher could take it to the $2000 mark. COT shows that institutions are largely increasing their longs and decreasing short positions.

AUD/USD Analysis
AU moving similar to gold as price broke out of a wedge and is now hitting a previous top around 0.67800s. Australia will announce their new cash rate on Tuesday which is expected to remain unchanged. That is slightly concerning knowing that AUD’s inflation is still very high. The USD has a better handle on inflation overall, but the uptrend is making AU look more bullish than it might be.

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🔥 +2,354 Pips on XAUUSD
Frank’s Gold trade FLEW +2354 pips! Here’s how he caught the movement:

📉 Why he got in:
Gold's continuing to rise at the start of this week, COT shows an increase of longs and decrease of shorts. It is the most longed asset on the EdgeFinder. The breakout shows heavy upside momentum, the 1H candle is going to close above the wedge.

📈 Why he got out:
I was looking for a complete move to the $2,000 mark. After the US released JOLTS jobs numbers, gold's price spiked well into the $2,000s. I exited the trade at $2,020 for +2,354 pips

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