A1 TRADING | Indices, Commodities, Forex, Futures
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You can now look at economic and fundamental metrics stacked against each currency with the Edgefinder. For example, if you wanted to watch GDP growth, you could look at past performances on any type of currency or all at the same time. The timeframe goes all the way back to 1960 which would give you a good idea of how the economy could perform in the future. On the right side is a table of various countries' growth of actual and previous numbers. The colors are to indicate large or small growth. The darker the color, the higher the growth and vice versa. The bottom chart shows the individual asset the user chooses along with its general trend average. You can also take a look at other economic metrics such as inflation, interest rate and unemployment in these countries as well as how they compare to others. The visuals make it extremely easy to see how each economy performs within a certain metric, who performs the best, worst and so on.

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EURCAD has been exceptionally weak this year as price may have already topped out. Price is showing considerable rejection on the 1D timeframe after going up to touch resistance at 1.32948. More resistance sits higher at 1.33868. A close with heavy rejection could lead the pair down to the lows below 1.3.
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Gold Hits Our Key Price Level
Gold dropped nearly 1% this morning before finding a bottom and showed signs of rejuvenation. Settling in the $1600s, the metal saw little to no momentum to the upside for some time. But now there could be a good reason for the metal to start moving back higher again.

https://a1trading.com/gold-hits-our-key-price-level/
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EURUSD looks weak again after the ECB raised rates by 50 bp instead of 25. This was big news for the Euro-area because interest has not been positive for several years. However, this may only cause a fleeting spark due to the lack of aggression towards inflation which set their inflation target way behind schedule. If price closes the day with big rejection on the 1D, it might be a signal for more downside. If price rises back up, resistance lies around 1.03500.
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Gold Analysis
The metal fell down to the $1680s which has served as a multi-bottom level of support. Each time the price has dropped to these lows, there was an eventual shift that sent price much higher. As gold hits our second price target, it's starting to look more attractive. Should the Fed continue their rate hike pace, gold could very likely find some more upside. Price targets we are looking at for the short run are $1719, $1750 and $1780. Heavy support sits at $1679.
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SPX500 Analysis
Price has broken the falling trend line and inches its way higher on the 1D timeframe. There could still be some short term potential on the index, but analysts are calling this a bear market rally. Some levels that price could come to could be around $4070 where there is clear resistance or even $4200. A mixed earing season is bringing the market higher, but it only looks like a short term move before making more lows.
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Today's forecast from the edgefinder based on sentiment and fundamental data!

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