Indices, Commodities and Forex Special Situations 04/02/2016
Published on Apr 02 2016
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INDICES
S&P 500 USA Stock market Index
Huge up move previous month. On Weekly testing high reaction resistance zone at 2070-2100. Only a break above 2100 will lead to a strong continuation of uptrend.
DAX German Stock market Index
DAX needs to overcome 10014 for the bulls to get in shape again and move higher into 10300-10500. Doji candles bellow this level doesn’t look good for bulls and indicates indecision.
XAUUSD – GOLD
We see GOLD bullish despite last week correction lower. Supported in zone 1190-1220. A break of 1250 warrants continuation up.
EURUSD
EURUSD supported by 1.10200 zone1.11200 into the next week. This area needs to be broken for the bears. EURUSD is testing high reaction zone 1.14000-1.15000 and only a break of this zone will lead to test of 1.17000.
USDJPY
USDJPY seems that it has finished correction higher, but only if it breaks lower end range at 110.622. Hard target down if this is to happen is 105. Weekly correction higher to 113.800 level happened and we expect pair to continue recent downtrend.
GBPUSD
GBPUSD is rejected again from 1.4480-1.4565 zone . Break of 1.4060 opens teh door for new recent and historic lows.
AUDUSD
AUDUSD following Gold breaking of downtrend and clearly bullish. It is expected to test 0.7800 and 0.8000. RBA Central Bank of Australia now doesn’t want to fight Aussie strength. Recent pullback was supported in the zone 0.7520-0.7600
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