Indices, Commodities and Forex Special Situations 06/05/2016
Published on June 06 2016
INDICES
S&P 500 USA Stock market Index
SP500 is testing 2100 again. Failure here would lead to a deeper continuation lower. Hard resistance on the upside is 2117 on the downside we need a break of 2030. We have no break of 2.117 which leaves downside open.
DAX German Stock market Index
DAX is facing strong resistance at 10286. A break above 10600 is needed for upside continuation. Dax is rejected by 100 SMA (RED LINE) 10334 level and is moving within a flag.
XAUUSD – GOLD
Gold is on a way to test 1200 $. Below 1180 $ strong downside move will be in place. Gold is bouncing from 100 SMA (RED LINE) 1200 but is below broken wedge line 1250 $ level leaving the downside open.
EURUSD
EURUSD is in a Pitchfork sideways consolidation channel testing it’s middle line 1.13663 level. We expect failure here.
USDJPY
USDJPY is on a way to test 105.822 weekly 200 SMA (BLUE LINE). Bounce from here would lead to a range continuation 105.500-112
GBPUSD
GBPUSD is trapped in a range between 1.4300 and 1.4700 level and it could extend heading into BREXIT referendum.
AUDUSD
AUDUSD is retracing downtrend wedge break move and is testing 38.2% retracement level. Failure here will lead to downside extension.
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