Indices, Commodities and Forex Special Situations 04/16/2016
Published on Apr 16 2016
INDICES
S&P 500 USA Stock market Index
Huge up move previous month. On Weekly entered 2070-2100 resistance zone. Only a break above 2100 will lead to a strong continuation of uptrend.
DAX German Stock market Index
DAX needs to overcome 10350 for the bulls to get in shape again and move higher into 10500. Dax is locked between 9308-10323 level. Break below this level and 200 SMA on weekly at 9.280 will lead to a shift in a trend.
XAUUSD – GOLD
We see GOLD bullish despite last week correction lower. Gold is reacting to previous broken resistance at 1230. Bears will be in control only if breaks 1200. We see it higher into 1300 $
EURUSD
EURUSD is into support testing broken triangle and getting ready for a new attack on 1.1470.
USDJPY
USDJPY has broken 110.600 and is on a way to 105 target. Retracing a move to 61.8% of recent swing lower. Nice place for shorting again.
GBPUSD
GBPUSD is still holding 1.4040 level and increasingly looks as inverted H&S formation but a break above 1.4560 is nedeed for this.
AUDUSD
AUDUSD following commodities upswing and is reacting on a retracement 38.2% level. Extension higher to 0.8000 is possible if breaks 0.7723.
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