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Daily Market Report 12-04-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1425

As we see over the chart, market seems building Rising Wedge formation which my indicate a drop correction that may hit the market toward 1.1150-70 zone

market still facing resistance zone at 1.1460-70 while support at 1.1375

any daily close below 1.1300 will confirm a break that may set the Euro in to drop correction mode toward 1.1150-70 zone

above 1.1470 market may confirm uptrend break that may lead toward 1.1550-70 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1375 1.1460-70
  LEVEL2 1.1300-10 1.1550-70
  LEVEL3 1.1200 1.1620
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4305

British Pound managed to advance yesterday toward our targeted zone 1.4280 - 1.4320 where managed again today to test this zone again

so far market showing ability for trading zone between 1.4200 - 1.4320 where a drop correction may hit the market toward support zone 1.4180 - 1.4215 before market resume advance toward 1.4380 - 1.4400 zone as we see over the chart

Intraday trading levels showing first support at 1.4280
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4280 1.4320
  LEVEL2 1.4240 1.4380
  LEVEL3 1.4180 1.4420
 
   
 
 
 
 

USD/JPY

  USD/JPY

108.30

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 yesterday) 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 -

40.70

Market managed to hold advance toward first target 40.00 as we advised last week, while managed today to sustain advance to close to our second target 41.00-25 as we advised yesterday

market now facing support zone at 39.90 and 39.15

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 and 41.70-80

below 39.15 market will threaten to go back toward 36.55 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 39.90 41.00-25
  LEVEL2 39.15 41.70-80
  LEVEL3 38.25 42.70
 
   
 
 
 
 

GOLD

  Gold

1258

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 1262.80 while as long as market holding above 1244 the uptrend will sustain toward 1265-75 resistance zone

from that zone 1265-75 we will expect another drop correction movement where main support will be at 1244

above 1285 market will show signals of farther advance toward 1300-07 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1253 1265
  LEVEL2 1244 1275
  LEVEL3 1229 1285
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17600

Market went in trading zone last week which still holding the Dow above 17400 support level

market initiate another support at 17480 where as long as market holding above this zone the uptrend will sustain for farther advance

below 17400 market may enter new downtrend drop correction that may lead toward 16950 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17480 17650
  LEVEL2 17400 17740
  LEVEL3 17240 18880
 

Source: www.orbex.com

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