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Wednesday, 06 April 2016 15:33 Written by

Daily Market Report 06-04-2016 by ORBEX‏

 

EUR/USD

  EUR/USD

1.1350

Market back again to test 1.1330-40 support zone while as we see over the chart if market managed to hold above this support zone the uptrend may continue toward 1.1475-95 zone

below 1.1330 market may head to test support zone 1.1250-80 which may provide another rebound toward 1.1350-60 zone

below 1.1240 market may add risk for farther drop toward 1.1100-30 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1330 1.1385
  LEVEL2 1.1250-80 1.1435
  LEVEL3 1.1100-30 1.1495
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4080

As we see over the chart market managed to break below the support level of the triangle (1.4170-80) which managed to hold the Bound below to add more drop where support now at 1.4050-60

we may expect some trading zone between 1.4050-60 & 1.4170-80 as we see over the chart

from another side the Head & Shoulder formation still ongoing which promising more drop toward first target 1.3950

above 1.4170-80 market may head for farther advance toward 1.4280-1.4300 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4050-60 1.4120
  LEVEL2 1.3950 1.4170-80
  LEVEL3 1.3835 1.4280
 
   
 
 
 
 

USD/JPY

  USD/JPY

110.35

market managed to fell below 110.50 support trend on safe haven demand which now showing ability for farther decline where our Mid-Run target back to stage again toward 106.60

however market may be in alert situation if dollar/yen fell below 110.00 levels as BOJ consider any prices below this zone as a potential intervention to weaken the Yen and so traders need to stay alert

as long as market holding trades below 111.05 the downtrend movement will sustain toward 108.80 and 106.60

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 110.00 111.05
  LEVEL2 109.50 111.70
  LEVEL3 108.80 112.70
 
   
 
 
 
 

Crude Oil

  Oil 6K -

36.90

as we see over the chart , market managed to hit below 36.15 before obtain rebound correction where resistance level at 37.20

as long as market holding below 37.20 will expect downtrend to sustain toward 34.25

while above 37.20 market may head for farther rebound correction toward 37.80-90 before downtrend wave back to head to 34.25

above 38.00 market may initiate new uptrend formation toward 40.00 and 41.00 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 36.15 37.20
  LEVEL2 35.25 37.90
  LEVEL3 34.25 40.00
 
   
 
 
 
 

GOLD

  Gold

1223

as we see market failed to obtain any daily close above 1240 which holding the downtrend pressure over the Gold

market just hit below 1222-25 support zone which indicating farther drop toward 1215 and 1190-95 zone

as long as the daily close sustain below 1240 the downtrend wave will sustain, while a daily close above 1240 may open the way toward 1265 again
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1215 1235
  LEVEL2 1208 1244
  LEVEL3 1190-95 1265
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17635

As we mentioned yesterday on our previous chart, market managed to head for another small drop correction while market still holding above first support 17565

as long as market holding above this zone the market will sustain uptrend movement toward 18000-100 zone with up and down movement

below 17565 market may head for bigger drop correction where next support at 17400 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17565 17790
  LEVEL2 17400 17880
  LEVEL3 17000 18000
 
   

 

Source: www.orbex.com

Read 260 times Last modified on Wednesday, 06 April 2016 15:33

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