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Daily Market Report 14-04-2016‏ by ORBEX

EUR/USD

  EUR/USD

1.1260

As we advised 2 days ago, market managed to break below Rising Wedge formation which affected Euro with more drop correction where market managed to obtain daily close below 1.1300 yesterday which may hit market with more drop as market closing to US inflation data today

market facing resistance zone at 1.1305-35 where as long as market holding below this zone will expect farther drop to test 1.1150-70 zone, while below 1.1150 market will face support at 1.1050-70 zone

any daily close above 1.1335 will restore strength for the uptrend movement



 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1225 1.1305-35
  LEVEL2 1.1150-70 1.1400
  LEVEL3 1.1050-70 1.1465
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4125

Market managed to fell below support 1.4170 which indicating ability to resume drop toward old target 1.3920-50 zone

as long as market holding below resistance 1.4195-1.4205 the downtrend market will sustain toward 1.4005 and 1.3920-50

above 1.4205 market may restore strength for more advance toward 1.4320 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4090 1.4195-1.4205
  LEVEL2 1.4005 1.4265
  LEVEL3 1.3920-50 1.4320
 
   
 
 
 
 

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 -

41.70

market managed to head for first drop as market holding below 42.50 as we advised yesterday

market still have chance to sustain advance to test 43.20-50 zone which if happens will expect another drop correction from that zone toward 41.25 again

below 40.60 market may add more retreat toward 39.50 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 40.60 42.50
  LEVEL2 39.50 43.50
  LEVEL3 38.30 45.00
 
   
 
 
 
 

GOLD

  Gold

1240

as we mentioned yesterday market faced drop correction as resistance zone 1265-75 still adding pressure over gold, while market rebound from support 1240 before retreat back to break below it

market tested support 1229.75 before rebound back toward 1240 as we see over our previous chart , while any daily close below 1235 will set downtrend wave over Gold that may affect the coming short-run trend

below 1229.75 market may head again to re-test support zone 1208-15 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1229.75 1250
  LEVEL2 1215 1265
  LEVEL3 1208 1275
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17905

As we see over our previous chart, 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 (already done yesterday)

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

below 17690 market may head again to test 17550 zone

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17690-730 17900-10
  LEVEL2 17550 18000
  LEVEL3 17400 18100
 

Source: www.orbex.com

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