Indices, Commodities and Forex Special Situations 08/21/2016
INDICES
S&P 500 USA Stock market Index
S&P500 is in an uptrend and acording to Pitchfork channel move into 2300 is not excluded. We are waiting for a break of 2200. Strong support on 2136 direction is clear. How to trade with Pitchfork tool join our webinar. No changes in view.
DAX German Stock market Index
Is retesting 10000 broken wedge line and 34 SMA. After break of 10300 new break point to lead to new highs is 10500. Dax made a clear break of falling LT Pitchfork channel changing the trend completely. Next resistance 11500. Pitchfork channel retest support is 10400.
XAUUSD – GOLD
Gold is supported by broken trend line 1320$ and it seems to be preparing for attack on new highs 1400$. Range hold candle is indicating break higher in the following days. No changes in view consolidation underway.
EURUSD
EURUSD is holding support of 34 SMA green line 1.10854. Approaching median Pitchfork line and we see extension into 1.13620. How to trade with Pitchfork tool join our webinar. The pair is expected broke the 1.12000 Median line and 100 SMA weekly (RED LINE) and we need a follow trough this week for a test of 1.15000 and complete LT trend shift.
USDJPY
USDJPY rejected from 200 SMA (BLUE LINE) and 61.8% Fibo retracement of last swing down Watching closely for a break of 99 for extension lower. No changes in view.
GBPUSD
GBPUSD is making a base but we need to see a break above 1.3300 for a bounce higher. Bounced hard from 1.2900 and made bullish engulfing pattern which could lead to 1.3300.
AUDUSD
AUDUSD is testing median Pitchfork channel line and 100 SMA (RED LINE) 0.7650 level. Break and close above 0.7630 100 SMA after almost three years is significant sign of a trend change in the pair from LT downtrend to uptrend. The pair need a follow trough this week for a test of 0.7800.
Subscribe or take our special offer three months membership 30% off!
How our trade alerts work- see HERE
VIP Life-Time membership special offer for 50% off!
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, Intraday tradable levels for majors, Intraday charts, Live trading sessions, Video analysis, Traders chat room, Trade Navigator free trial.