Indices, Commodities and Forex Special Situations 04/09/2016
Published on Apr 09 2016
INDICES
S&P 500 USA Stock market Index
Huge up move previous month. On Weekly rejected by high 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. Dax howering above 9300 points level. 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. Good reaction on support and GOLD is opening doors to another attack on 1300 $.
EURUSD
EURUSD is forming inside bar on a weekly chart and is getting ready to attack 1.4950 level. Break of this level will end multimonth consolidation.
USDJPY
USDJPY has broken 110.600 and is on a way to 105 target. We could see a little bounce here but strong support down is 109-110 zone.
GBPUSD
GBPUSD is still holding 1.4040 level and increasingly looks as inverted H&S formation but a break above 1.4560 is nedeed for this.
AUDUSD
AUDUSD following commodities upswing and is reacting on a retracement 38.2% level. Extension higher to 0.8000 is possible if breaks 0.7723.
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