Indices, Commodities and Forex Special Situations 05/01/2016
Published on May 01 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. We still have no break of 2100 and we are on sidelines.
There is a reaction on 2100 level and is reversing lower. Below 1990 S&P500 would enter deeper correction.
DAX German Stock market Index
DAX needs to overcome 10350 for the bulls to get in shape again and move higher into 10500. It has broken strong resistance to upside and is on for a test of 11000. 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. Gold has broke consolidation triangle above 1275 $ and is testing 1300 $ before extension to 1350$.
EURUSD
EURUSD is near a break of 1.14660 level which will end 14 months consolidation in the pair. Invalidation only below 1.11500.
USDJPY
USDJPY made a clean break of 107.640 with a giant bearish candle. Next srong resistance is 105.500 level followed by a 105 level 200 SMA (BLUE LINE).
GBPUSD
GBPUSD is above broken neckline and is testing 1.4667 level for a move higher to 1.4880 target.
AUDUSD
AUDUSD is reacting ona a support zone 0.7383-0.7500 which should hold for another test of 0.7880 level.
We cover all Majors, Crosses, Indices and Commodities. You will get Live trading signals real time on email, skype, viber, twitter private feed, NY session analysis of all major asset classes, Live trading sessions, Video analysis, Traders chat room, Trade Navigator free trial.