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Tuesday, 10 May 2016 15:08 Written by

Daily Market Report 10-05-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1385

Market managed to sustain drop pressure over short-run while market still holding market up where first resistance at 1.1430, as long as market holding the H4 bar closing below this resistance the downtrend outlook will sustain toward 1.1250-70 zone.

any H4 closing above 1.1430 may give the market the opportunity to attack resistance 1.1480 where above this zone expect farther advance toward 1.1560-80 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1380 1.1430
  LEVEL2 1.1340-50 1.1480
  LEVEL3 1.1250-70 1.1560-80
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4445

Market managed to sustain drop toward 1.4375 where market tried several times to break without success so far

as long as market holding above 1.4375 the chance for more rebound correction will sustain where market facing 1.4480 and 1.4575 as resistance levels

above 1.4575 market may enter another bull wave that may target 1.4700 zone

below 1.4370 market will add more drop pressure that may take Pound toward more drop to 1.4100 zone

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4345-75 1.4480
  LEVEL2 1.4190 1.4575
  LEVEL3 1.4100 1.4670
 
   
 
 
 
 

USD/JPY

  USD/JPY

109.20

Market managed to head toward target 108.80-90 where market managed to break above but still need daily close above this zone to activate another bull wave toward 110.00 and maybe 111.85

traders headed to short Japanese Yen after Japan’s Finance Minister said the government can intervene to stabilize foreign-exchange markets if necessary.

market holding support at 108.15 and 107.40-50 where as long as market holding above those support market will sustain advance toward 110.00
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 108.15 109.45
  LEVEL2 107.40-50 110.00
  LEVEL3 106.60 111.50-80
 
   
 
 
 
 

Crude Oil

  Oil 6M - New Contract

43.85

As we see over the chart, market managed to retreat from 46.15 resistance while managed to hit below 43.25

market facing resistance at 44.50 zone where as long as the H4 bar closing below this resistance the downtrend pressure will sustain toward 41.50 - 42.00 zone

above 44.50 market may head toward 45.50 - 46.00 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 43.00 44.50
  LEVEL2 41.50-42.00 45.50
  LEVEL3 39.40 4615
 
   
 
 
 
 

GOLD

  Gold

1265

Market managed to break below 1269 which activate another drop pressure that may target 1235-40 zone as we advised before

market now facing resistance at 1274 where as long as market holding below this zone expect farther drop to come

above 1274 market may head again to test resistance zone 1285-87
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1259 1274
  LEVEL2 1249 1285-87
  LEVEL3 1235-45 1295
 
   
 
 
 
 

Dow Jones

09
  US30 Dow-Jones

17815


as we see over our previous chart, market managed to complete drop correction toward target 17540 which managed to push the market for another advance so far toward 17837

market now facing resistance zone at 17915 which if managed to hold the market another drop toward 17650 will be expected

any daily close above 17915 will set uptrend outlook which will face 18085 as resistance zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17540 17850
  LEVEL2 17400-50 17915
  LEVEL3 17250 18000-50
 
   

Source: www.orbex.com

Read 246 times Last modified on Tuesday, 10 May 2016 15:08

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