A1 TRADING | Indices, Commodities, Forex, Futures
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🀩 Nick is up $2,000 on his CADCHF trade!

πŸ“ˆ Nick shared a trade on CADCHF yesterday in the VIP community due to a strong buy reading on the edgefinder. Here is his original analysis: "Picking up a small position on CAD/CHF here today. This pair has finally come down to a level I'm interested in picking up! I have taken a few small losses recently, so we'll see if CAD/CHF can turn it around. Remember - the reason I use small positions is because when things go wrong, they can go wrong for a while! Small positions keep us in the game and reduce our chance of blowup."

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AUDUSD saw a minor bounce from the lows today, but it looks like the pair is giving back most of its gains for the day. USD sentiment could still be very bullish as price may look to break under this level of support. A close below the .70800s could be a sign that price will continue to fall.
Gold looks like it can't keep itself above the current support level. It seems like price may make its way down to the 200 DMA or the level of support right above it. Recession fears still linger as eastern European conflict is not so heavy in the news right now, which is reflecting gold's performance.
SPX500 did come down to touch that double bottom on the 1D, but this doesn't look like a strong bounce yet. With every climb, a harsh sell off follows making trading extremely difficult for the indices. With the high level of uncertainty, it would seem likely that SPX falls under the double bottom level of support.
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AUDUSD started to rally in futures before giving back mot of its gains. If price cannot hold above this support level, it might continue to fall to the double bottom on the 1D. The minor pullback in the USD might be over as we start to see dollar strength resurface.
Bitcoin also looks to be struggling on the long side as many headwinds keep risk-on pairs from catching any upside. Price is currently clinging to a rising trend line on the 1D, but it's hard to say whether the pair will continue to move within the wedge pattern.
SPX500 falls again today after two days of gains. The index was able to catch a bounce off the double bottom, but it looks like price may be going back down to test this level on the 1D. After a mixed tech earnings, investors struggle to gather enough momentum to move to the upside.