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Daily Market Report 03-05-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1595

As we see over our previous chart, market managed to break above 1.1495 which managed to push market farther closing to target 1.1620.

market may head for drop correction from 1.1620 where (1.1495 - 1.1520) will consider the support zone

as long as market holding trades above 1.1460 we will expect farther advance toward target 1.1820
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1565 1.1620
  LEVEL2 1.1495-1.1520 1.1715
  LEVEL3 1.1460 1.1820
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4690

As we advised yesterday , market head toward our first scenario where managed to sustain advance without any drop correction where managed today to hit target zone 1.4750-70

market now have same 2 possible scenario :

1- the first one is as long as market holding above 1.4645 the uptrend will sustain for farther advance toward 1.4820-50

below 1.4640 market may head for farther drop correction toward 1.4500-50 zone where from there will expect another uptrend wave toward 1.4820-50 while risk below 1.4475
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4645-60 1.4750-70
  LEVEL2 1.4575 =9 1.4820-50
  LEVEL3 1.4475 1.4915
 
   
 
 
 
 

USD/JPY

  USD/JPY

105.75

Market sustain drop below 106.60 which activated another drop pressure after U.S placed Japan in new currency watch list to prevent or watch any currency manipulation which open the way for the traders to sustain demand for Japanese Yen as safe haven careless about any intervention from BOJ

market now facing support zone at 105.15-25 which may be able to hit the market for rebound correction toward 106.60 or 107.60 before resume downtrend wave

below 105.00 market may enter new downtrend wave that may target 100.70
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 105.15-25 106.60
  LEVEL2 104.10 107.60-70
  LEVEL3 103.55 108.50
 
   
 
 
 
 

Crude Oil

  Oil 6M - New Contract

44.35

Market sustain drop as expected from resistance zone 46.60-70 while managed to break below support of the uptrend channel as we see over the chart.

market now facing support at 44.00 where below this level will expect farther drop toward 41.00 zone where from there we will expect another bull wave that may target the 48.35

downtrend risk will start below 40.00 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 43.75 45.35
  LEVEL2 42.50 46.15
  LEVEL3 41.00 46.75
 
   
 
 
 
 

GOLD

  Gold

1296

As we see over our previous chart, market managed to retreat from 1303.80 as first drop correction toke place toward 1287.70

as long as market holding below 1305-10 zone will expect some trading zone as we advise before between 1280 - 1310

as long as market holding above 1270 we will expect farther advance to break above 1310 and head toward 1325 and 1350

below 1270 market will face support at 1240
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1280 1305-10
  LEVEL2 =9 1270 1325
  LEVEL3 1240 1350
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17770

Market managed to hit below 17775 in signs of more drop yet to come

as we see over our previous chart, market still trying to complete the drop correction toward targets , while market now facing support at 17540 which may be target for the short-run before a rebound correction may hit the market toward 18000 zone

below 17540 market may head for farther drop toward 17400-50 before hit any rebound correction

in general market facing resistance at 17850-915 where as long as market holding below this zone the downtrend pressure will sustain

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17540 17850
  LEVEL2 17400-50 17915
  LEVEL3 17250 18000-50
 

 

Source: www.orbex.com

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