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Daily Market Report 04-05-2016 by ORBEX

EUR/USD

  EUR/USD

1.1477

Market managed to sustain drop from resistance zone 1.1620 where market still facing support zone at 1.1450-65

as long as market holding above this zone we will stick with the uptrend wave that may target 1.1820 zone

below 1.1450 market will face support at (1.1390 - 1.1400) where below this zone expect farther drop toward 1.1240-60 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1450-65 1.1510
  LEVEL2 1.1390-1.1400 1.1540
  LEVEL3 1.1240-60 1.1620
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4480

Market fell below 1.4645 where managed to activate more drop toward 1.4500-50 zone as we advised yesterday

market continue drop where tested today support zone 1.4450-75 while as long as market holding above this zone will expect another uptrend wave that may target 1.4850 zone

below 1.4450 market will add risk for more drop toward 1.4300-50 zone which my give the market support for rebound correction

below 1.4300 expect 1.4100 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4450-75 1.4575
  LEVEL2 1.4300-50 1.4640
  LEVEL3 1.4100 1.4750
 
   
 
 
 
 

USD/JPY

  USD/JPY

106.70

As we see over our previous chart, market managed to obtain rebound correction toward 106.60 and 107.46

as long as market holding below 107.80 will expect farther drop where trading zone may take place between 105.15 - 107.40

while as long as market holding below 107.80 the short-run downtrend pressure will sustain
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 105.15-25 107.60-70
  LEVEL2 104.10 108.50
  LEVEL3 103.55 109.45
 
   
 
 
 
 

Crude Oil

  Oil 6M - New Contract

43.80

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 42.50 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

intraday trading levels showing as long as market holding below 44.65 the downtrend pressure will sustain

short-run downtrend risk will start below 40.00 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 42.50 44.65
  LEVEL2 41.00 45.35
  LEVEL3 40.00 46.15
 
   
 
 
 
 

GOLD

  Gold

1276

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

as long as market holding below 1305-10 zone will expect some trading zone as we advise before between 1270 - 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 1235 - 40
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1270 1305-10
  LEVEL2 1255 1325
  LEVEL3 1235-40 1350
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17660

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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