ADVERTISEMENT



Daily Market Report 07-04-2016‏ by ORBEX

EUR/USD

  EUR/USD

1.1400

As we see over the chart, market managed to hit new weekly high before retreat on ECB vice president commentary while traders still need to see actions not talks

market built support zone at 1.1325-55 where support line holding market at that zone

as long as market holding above this support zone will expect farther advance toward 1.1500-30 zone

below 1.1325 market may add more drop pressure as market may head for farther drop from that zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1325-55 1.1465
  LEVEL2 1.1250-80 1.1495
  LEVEL3 1.1100-30 1.1550
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4065

Market managed to head for our trading zone from yesterday low 1.4005 while resistance zone of 1.4170-80 managed to hold the downtrend pressure over the Bound

market intraday levels showing resistance at 1.4100-10 where as long as market holding below this levels the downtrend pressure should sustain toward 1.3950

above 1.4110 market may head for intraday trading zone between 1.4090 - 1.4170

above 1.4180 market may head for farther advance toward 1.4280-1.4300 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4005 1.4100-10
  LEVEL2 1.3920-50 1.4170-80
  LEVEL3 1.3830 1.4280-1.4300
 
   
 
 
 
 

USD/JPY

  USD/JPY

108.35

Market managed to sustain drop as we advised before where managed to accelerate drop movement on traders ignoring BOJ warning for intervention

market facing support zone at 107.70 which may drive for rebound correction toward 109.40 while main resistance laying at 110.20

as long as market holding below those resistance the downtrend movement will sustain toward 107.70 and 106.60

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

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 107.70 109.40
  LEVEL2 106.60 110.20
  LEVEL3 105.20 111.05
 
   
 
 
 
 

Crude Oil

  Oil 6K -

37.80

as we see over the chart , market managed to built uptrend channel while managed to hit above 38.00 zone

so far market facing support at 37.40 where as long as market holding above this zone will expect farther advance toward 39.70

below 37.40 market my head for farther drop correction toward 36.15
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 37.40 38.25
  LEVEL2 36.15 39.00
  LEVEL3 35.25 39.70
 
   
 
 
 
 

GOLD

  Gold

1238

Gold managed to break above resistance level of the downtrend channel which may affect the short-run movement

market still facing resistance zone at 1244 where as long as market holding below this level the downtrend pressure will sustain

any daily close above 1240 or a break above 1244 will reverse the short-run indicators toward up where first target will be 1265
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1222-25 1244
  LEVEL2 1208 1265
  LEVEL3 1190-95 1285
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17640

Market moved in fast drop yesterday below 17565 in false break as market back above the support level which will consider now at 17540-65 zone

market will sustain advance as long as market holding above this zone where our short-run target still toward 18000-100

below 17540 market may head for farther drop toward 17400 while below this zone market may initiate bigger drop correction toward 16950 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17540-65 17790
  LEVEL2 17400 17880
  LEVEL3 17000 18000
 
   

Source: www.orbex.com

Read 763 times

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

Newsletter Subscription Form

You are more than welcome to subscribe to our Newsletter and be among the first who get to hear about regular updates on forex and other related news, brokers' updates, websites' changes and more!
I agree with the Terms and conditions and the Privacy policy
Thank you!