Wednesday, August 3, 2016

Monthly Forecasts for CFDs (August 2016)


Dominant bias: Bullish
AUS200 moved north by over 3700 points in July 2016, as it was anticipated. There is a Bullish Confirmation Pattern in the daily and 4-hour charts, emphasizing bulls’ hegemony. In this market, the best trading approach now is to buy short-term pullbacks whenever they happen, providing that a pullback is followed by a bullish candle. This is exactly what happened on July 5, 2016, and it was followed by a nice bullish run.  

Dominant bias: Bullish
This market moved upwards in bullish mode between July 4 to 20 (the dip the happened on July 5 being a “buy” opportunities for latecomers). Price then consolidated from July 20 till the end of the month. The consolidation that happened in the last few days of the month has resulted in a “box” between the support line at 2157.0 and the resistance line at 2178.5; and price would need to go out of the box for the trend to continue. Since the outlook on SPX500 is currently bullish (though bears might win before the end of this year), price would continue going upwards when it leaves the box. 

Dominant bias: Bullish
Here, price reached a low of 17709.0 and a high of 18635.0, in July 2016. That was a gain of over 920 points, from trough to peak. However, price threatened to break down last week, forming a bearish signal on the 4-hour chart, while the bias on the daily chart remains bullish. In August, a movement bellow the accumulation territory at 18200.0 would result in a bearish outlook, unless price moves upwards before reaching that accumulation territory. 

Dominant bias: Bullish
In the last prognosis, the supply level at 10470.8 was our target for last month. From the monthly low of 9301.3, price went up more than 10,500 points, to close the month at 10350.7. While the target for last month has not been reached, it would be reached in August. Price might even be able to go above it, and gain additional 500 points after the initial target has been exceeded.

Dominant bias: Bullish
From July 4 to 7, FRA40 went south, but further southward movement was rejected at the demand zone of 4057.4, after which price went northward by roughly 4000 points. There is an ongoing bullish signal in the market and price is supposed to continue trending upwards in August 2016, reaching the supply zones at 4500.0, 4550.0 and 4650.0 in this month or next.

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