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Daily Market Report 02-03-2016‏ by Orbex

EUR/USD

  EUR/USD

1.0860

As we see on our previous chart, market managed to hold trades below our resistance 1.1070 which managed to push market below 1.0960 after US GDP last Friday where market still signaling more drop toward our target zone 1.0800 and 1.0700 as we advised before

market short-run resistance at 1.0900-15 and 1.0980 where as long as market holding below those levels will expect farther drop to come

will expect some rebound correction once market tested 1.0780-1.0810 zone , while second zone for rebound correction will be 1.0700-20 zone as we see on our previous chart
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 10810 1.0900-15
  LEVEL2 1.0775 1.0980
  LEVEL3 1.0710 1.1070
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.3940


market managed to fell to test support 1.3845 as we see over the chart, while managed from there to rebound toward target zone 1.3960-1.4000 as we advised before

from that zone will expect the downtrend pressure to back on market to head toward 1.3655 zone as long as market holding trades below 1.4040

from another hand if market managed to hit above 1.4040 this may create short-run trading zone between 1.3900 - 1.4140 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.3900 1.4040
  LEVEL2 1.3845 1.4100
  LEVEL3 1.3720 1.4140-70
 
   
 
 
 
 

USD/JPY

  USD/JPY

114.40

market managed to sustain advance where market still looking to test resistance zone 115.10

market will face 115.10 and 116.20 as resistance levels where from there will expect another drop wave toward 110.00 zone

above 116.20 market may sustain advance with resistance at 117.50
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 113.75 115.10
  LEVEL2 112.90 116.20
  LEVEL3 112.00 117.50
 
   
 
 
 
 

Crude Oil

  Oil 6J - New Contract

33.75

As we see over the chart, market failed to break above resistance 34.80 which hold the downtrend pressure back over Oil

as we advised before as long as market holding below 34.80 the downtrend pressure will sustain for another drop to test 29.40 and 27.55

above 34.80 market may sustain advance toward 36.50-37.00 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 32.30 34.40-80
  LEVEL2 30.50-70 35.75
  LEVEL3 29.40 36.50-37.00
 
   
 
 
 
 

GOLD

  Gold

1230

as we see over our previous chart, market managed to hold trades inside the triangle formation as we can see over the chart, while market resistance level at 1250

as long as market holding trades below 1250 will expect another dip toward 1220 zone with continues trading zone

below 1211 will expect farther drop toward 1180, while above 1250 market may head to attack 1264 resistance where above this level expect farther gain to test 1300-10 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1220 1250
  LEVEL2 1211 1264
  LEVEL3 1197 1285
 
   
 
 
 
 

Dow Jones

  Mini Dow-Jones

16820


market managed to activate rally movement yesterday where market managed to test 16880-900 zone as we see over the chart

market may head for drop correction as long as holding below 16900 where 16560 and 16390 would be target

above 16900 market may sustain advance toward 17300
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 16785 16900
  LEVEL2 16560 17015-50
  LEVEL3 16430 17200

Source: www.orbex.com

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