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Thursday, 05 May 2016 18:08 Written by

Daily Market Report 05-05-2016 by ORBEX

EUR/USD

  EUR/USD

1.1430

Market managed to fell below 1.1460 which adding risk for more drop movement

market will face support at (1.1390 - 1.1400) which may drive for rebound correction toward 1.1520 zone , while below 1.1390 market may head for farther drop toward 1.1250-70 zone

such scenario movement may depend on tomorrow US labor market data as traders wait for more clue over Fed intention toward interest rate hike
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1390-11400 1.1465
  LEVEL2 1.1340-50 1.1520
  LEVEL3 1.1250-70 1.1570
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4462

Market failed several times to sustain rebound where market faced resistance at 1.4530-40 zone

market now seems heading for farther drop to break below 1.4450 and head to test 1.4340-70 support zone which may drive market for rebound correction from there

as long as market holding below 1.4575 the downtrend pressure will sustain

below 1.4300 market may target 1.4100 , while above 1.4575 market may target 1.4700 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4340-70 1.4530-40
  LEVEL2 1.4250 1.4575
  LEVEL3 1.4150 1.4670
 
   
 
 
 
 

USD/JPY

  USD/JPY

107.18

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

above 107.70 market may obtain more advance toward 109.40
 
 
 
    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

44.75

Market Managed to obtain rebound correction from 43.37 while market still facing 45.35 and 46.15 as resistance levels

as long as market holding below this levels the downtrend will sustain to complete correction toward (41.50 - 42.00) zone

above 46.15 market may sustain advance toward 48.35-75 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 42.50 45.35
  LEVEL2 41.50 46.15
  LEVEL3 40.00 46.80
 
   
 
 
 
 

GOLD

  Gold

1278

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

17695

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

Read 200 times Last modified on Thursday, 05 May 2016 18:08

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