Commodities, Indices, Forex 05/14/2016

Indices, Commodities and Forex Special Situations 05/14/2016

Published on May 14 2016

INDICES

S&P 500 USA Stock market Index

Reaction from 2100 followed by retracement from a 2040 and again reaction from 61.8% of Fibbo retracement for a move lower to important test of 2000. If this will be broken we could see a fall to 50% Feb-May move 1960 level.

 

DAX German Stock market Index

DAX reacting from a rising (bearish) wedge lower line, but caries high probability of a fall below 9750 to 9300 points.

 

 

XAUUSD – GOLD

Gold heavy reaction from 1300 $ level leaves a door for further consolidation between 1200 and 1310 $ and even a new bear leg to 1000 $ in the coming months.

 

EURUSD

EURUSD is back into the consolidation after another false break higher. For an upside continuation wee need to see a close above 1.17000. Breaking the rising (bearish) wedge below 1.13000 opens the door for a test of 1.10968 and lower.

 

USDJPY

USDJPY is holding below 61.8  Fibbo retracement of a BOJ move lower. Reversal of this downtrend is only possible with a break of 114.

 

GBPUSD

GBPUSD is testing support 1.4350 level. Below 1.4300 we could see extension lower all the way to 1.3900.

 

AUDUSD

AUDUSD is testing 0.7200 level which is turning point for a pull back into 0.6800-0.7200 consolidation bottom.

 

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