HY Newsletter – DAX Broke Support Zone

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Stocks Report: Twitter, Inc.

Twitter falls inside minor impulse wave 3

Likely to fall to 14.00 

471-Stocks

Twitter continues to fall inside the minor impulse wave 3 – which started previously – when the price reversed down from the resistance zone lying between the resistance level 15.40 (former strong support level which stopped the earlier intermediate impulse wave (1) in March), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp minor impulse wave 1 from the end of April.  Twitter is likely to fall further to the next strong support level 14.00 (which has been reversing the price from February, as can be seen below).

 

Commodities Report: Sugar

Sugar broke resistance levels 0.1850 and 0.1900

Likely to rise to 0.2000


471-Commodities

Sugar recently rose sharply – breaking through the resistance levels 0.1850 and 0.1900 – both of which were set as the likely upward targets in our earlier forecast for this instrument. The breakout of the resistance level 0.1900 coincided with the breakout of the upper resistance trendline of the daily up the channel from February – which was preceded by the breakout of the longer-term daily up channel from last August, as can be seen from the daily Sugar chart below. Sugar is likely to rise to the next round resistance level 0.2000.

 

Index Report: Deutsche Borse AG German Stock Index

DAX broke support zone

Likely to fall to 9800.00

471-Indices

DAX continues to fall – following the earlier breakout of the support zone lying at the intersection of the following support levels: support level 10100.00 (which was set as the likely downward target in our previous forecast for this index), round support level 10000.00 and the support trendline of the daily up channel from the middle of February. DAX is expected to fall further toward the next strong support level 9800.00 (which reversed earlier waves (1) and B in May, as can be seen below). Sell stop-loss can be placed above the resistance zone lying between resistance levels 10000.00 and 10100.00.

 

Forex Report: AUD/NZD

AUD/NZD broke pivotal support level 1.0550

Likely to fall to 1.0300

471-Forex

AUD/NZD recently broke sharply below the pivotal support level 1.0550, which has been steadily reversing this currency pair from the end of October, as you can see from the daily AUD/NZD chart below. The breakout of this support level accelerated the active minor impulse wave 3, which belongs to the intermediate downward impulse wave (3) from the middle of March. AUD/NZD is likely to fall further in the active impulse waves 3 and (3) toward the next support level 1.0300 (target price calculated for the completion of the active impulse 3).

 

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