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Daily Market Report 11-4-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1380

Euro sustain whole last week in tight trading zone while uptrend movement still have chance as long as the daily close sustain above 1.1275

intraday trading levels showing support at 1.1325-55 where as long as market holding above this zone the uptrend will sustain strongly toward 1.1500-30

below 1.1325 market will face support zone of 1.1270-80 where as long as the daily close above this zone the short-run uptrend outlook will remain on market

a daily close below 1.1275 will set a drop correction that will face support level at 1.1200 and 1.1100
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1325-55 1.1455
  LEVEL2 1.1270-80 1.1500-30
  LEVEL3 1.1200 1.1620
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4190

British Pound managed to advance fast today while managed to break above 1.4170-80 zone

so far market facing support zone at 1.4140-60 where as long as market holding above this zone will expect farther advance toward 1.4280 - 1.4320 zone

below 1.4140 market may face another drop to test uptrend channel as we see over the chart, while below 1.4070 market may head back toward target 1.3950
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4140-60 1.4225
  LEVEL2 1.4070 1.4280
  LEVEL3 1.4005 1.4325
 
   
 
 
 
 

USD/JPY

  USD/JPY

108.05

As we see over our previous chart, Market managed to hold support 107.70 again as we advised last week while managed to test door of resistance zone around 109.10

as long as market holding below 109.10 we will expect another drop to re-test 107.70 zone (already done today) while as long as this support (107.70) hold the market another rebound toward 110.00 will be expected

whether market managed to test 109.10 or 110.00 resistance levels we still see short-run heading toward 106.60 zone

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 107.70 109.10
  LEVEL2 106.60 110.00
  LEVEL3 105.20 111.05
 
   
 
 
 
 

Crude Oil

  Oil 6K -

39.55

Market managed to hold advance toward first target 40.00 as we advised last week

market now facing support zone at 39.15 and 38.25

as we see over the chart, as long as market holding above one of those supports the uptrend will sustain toward 41.00-25 zone

below 38.20 market will threaten to go back toward 36.55 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 39.15 39.85
  LEVEL2 38.25 40.35
  LEVEL3 37.20 41.00-25
 
   
 
 
 
 

GOLD

  Gold

1249

as we mentioned before that any daily close above 1240 or a break above 1244 will open new wave toward 1265 zone as first target

market so far managed to hit 1254 while as long as market holding above 1244 the uptrend will sustain toward 1265 as first target

below 1244 market may head again to test 1232 zone while support of the uptrend line laying at 1229
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1244 1265
  LEVEL2 1229 1275
  LEVEL3 1215 1285
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17630

Market went in trading zone last week which still holding the Dow above 17400 support level , while above 17680 market may head for farther advance where zone of 18000-100 still possible target

below 17400 market may enter new downtrend drop correction that may lead toward 16950 zone

Source: www.orbex.com

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