Daily Market Report 13-04-2016‏ by ORBEX

EUR/USD

EUR/USD

1.1306

As we advised yesterday, market managed to break below Rising Wedge formation which affected Euro with more drop correction where market now testing support level 1.1300-10

as long as market holding above 1.1300 the Euro will have chance to resume the uptrend

below 1.1300 market will add signals for farther drop where next support laying at 1.1150-70 zone

Euro need daily close below 1.1300 to confirm the downtrend model


	SUPPORT	RESISTANCE
LEVEL1	1.1300	1.1345
LEVEL2	1.1210-25	1.1400
LEVEL3	1.1150	1.1465

GBP/USD

GBP/USD

1.4245

As we saw on market yesterday, British Pound moved in line with expectation which managed to hold the trading zone between 1.4180 - 1.4380

market managed to obtain drop correction from 1.4350 zone yesterday where market managed to head to test support zone 1.4180 - 1.4215 that we advised yesterday.

today market showing ability to advance if market managed to break above 1.4260 where target will be 1.4325
while above this level will expect 1.4380 -1.4410 zone

as long as market holding above 1.4170 we will stick with our positive outlook for farther advance, while below 1.4170 market may head to test 1.4100-15 while below this zone market may attack support level 1.4000


	SUPPORT	RESISTANCE
LEVEL1	1.4170	1.4260
LEVEL2	1.4100-15	1.4325
LEVEL3	1.4000	1.4380-1.4410

USD/JPY

USD/JPY

109.20

As we see over our previous chart, Market managed to hold support 107.70 again as we advised last week while managed to advance again toward 109.10 zone as we advised this week.

market now facing resistance levels at 109.50 and 110.05 , while our model that we placed last week showing that market still heading toward 106.60 target as long as market holding trades below 110.05

above 110.70 market may give signals of farther advance toward 112.50


	SUPPORT	RESISTANCE
LEVEL1	108.40	109.50
LEVEL2	107.70	110.05
LEVEL3	106.60	110.70

Crude Oil

Oil 6K -

41.55

Market managed to sustain advance as we advised before, while market closing to resistance 42.50

we will expect a drop correction that may hit the market either from 42.50 or 43.50 as we explain on the chart

above 43.50 market may sustain advance toward 45.00 and 48.00 zone


	SUPPORT	RESISTANCE
LEVEL1	40.60	42.50
LEVEL2	39.50	43.50
LEVEL3	38.30	45.00

GOLD

Gold

1242

as we mentioned yesterday market faced drop correction as resistance zone 1265-75 still adding pressure over gold, while market is now testing 1240 support level

as long as market holding above 1240 the chance for another run toward 1265-75 will sustain, while below 1240 market may adding more drop where next support laying at 1229.75

below 1229.75 market may head again to re-test support zone 1208-15 zone


	SUPPORT	RESISTANCE
LEVEL1	1240	1252
LEVEL2	1229.75	1265
LEVEL3	1208-15	1275

Dow Jones

US30 Dow-Jones

17825

As we advised yesterday, market managed to hold trades above support 17480 while broke the triangle formation as we see over the chart which managed to fuel the Dow rally so far

market built support zone at 17690 - 17730 where as long as market holding above this zone will expect market to head to attack resistance level 17900-10

above 17910 market may add more advance toward target zone 18000-100

below 17690 market may head again to test 17550 zone