Monthly Trading Forecasts for CFDs (September, 2016)

6 September 2016, 13:57
1246536 Ernest G.
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Here’s the market outlook for this month: Content courtesy of Tallinex Limited https://www.tallinex.com  

 AUS200

Dominant bias: Bearish
AUS200 dipped at the beginning of August before moving sideways until last week, when it dropped significantly. The bias is now bearish until price moves above the resistance line at 5620.0. Further dips are expected this month, which may enable the support lines at 5350.0, 5250.0 and 5200.0 to be reached.

SPX500
Dominant bias: Neutral
The market was flat throughout August, which brought about a neutral bias that essentially started in July, and is likely to continue until the end of this month or early next. There should not be any protracted bullish movement now, as the bullish phase has already reached maturity; but a serious decline is possible if bears begin to wake up.

US30
Dominant bias: Neutral
This was another flat market last month, which is now in a confirmed sideways phase. Price will continue swinging between the resistance level at 18670.0 and the support level at 18240.0 until something forces it to choose a direction - most probably downward, because 4-hour and hourly charts reveal bears making covert attempts to end the neutral bias.

GER30
Dominant bias: Bullish
As anticipated, price managed to break the 10470.8 high of June 23 (our goal since the strong pullback of June 24) - enabling buyers to fully recover their recent losses. The bias remains bullish on the daily chart but neutral on the 4-hour chart, though bullish effort is obvious from bullish closes of daily and 4-hour candles. This means bulls are still willing to push price upward this month - possibly reaching the supply levels at 10805.0, 10855.0 and 10900.0 - targets that are quite attainable this year.

FRA40
Dominant bias: Bullish
As with GER30, FRA40 closed on a bullish note last Friday after the low of 4290.4 and high of 4525.9 during August. Bulls seem willing to push further north as there are Bullish Confirmation Patterns on the 4-hour and daily charts. Price is now at its highest level since April, so the aim for this month is to break the April high of 4612.9.


Azeez Mustapha
Currency Analyst
Tallinex Limited
The Jaycees Building, Stoney Ground
PO Box 362, Kingstown, VC0100
St Vincent and the Grenadines
https://www.tallinex.com


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