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Monday, 16 May 2016 17:11 Written by

Daily Market Report 16-5-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1320

Market managed to hit below 1.1360 in more signs of more retreat still yet to come where market managed to hit 1.1283 low last week

market showing ability for trading zone between 1.1220 - 1.1395

as we see over the chart, market facing resistance at 1.1360 where as long as market holding below will expect farther drop toward 1.1220-50 zone before a rebound toward 1.1395 may hit the market

above 1.1395 market may restore strength again
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1280 1.1360
  LEVEL2 1.1220 1.1395
  LEVEL3 1.1150 1.1470
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4343

Market managed to fell below support 1.4375 which may trigger more drop movement over short-run

as we see over the chart, market now facing resistance at 1.4390 where as long as market holding below this zone the downtrend pressure will sustain where market will face 1.4300, 1.4200 and 1.4100 as support levels

above 1.4425 market may restore some strength to head toward 1.4500-30 zone

 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4300 1.4390
  LEVEL2 1.4200 1.4425
  LEVEL3 1.4100 1.4500-30
 
   
 
 
 
 

USD/JPY

  USD/JPY

108.87

Market managed to obtain drop correction toward 108.20 as we advised before where managed from there to advance toward 109.55 before heading for another drop movement toward 108.45 today

so far market still holding above support 108.20 which promising for more advance toward 110.00 and above

below 108.20 market will face support at 107.40-50 before continue drop toward 106.25-50 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 108.20 109.55
  LEVEL2 107.40-50 110.00
  LEVEL3 106.25 111.50-80
 
   
 
 
 
 

Crude Oil

  Oil 6M -

47.00

As we advised last week " market managed to hit above resistance 44.50 zone where as long as market holding above 43.95 the uptrend will sustain toward 46.15 zone " already done at market

market managed to hold our support and headed toward 46.15 where managed to break above it in sign of ability to resume uptrend toward target 48.35-75

as long as market holding above 44.00 uptrend will sustain, while below 44.00 market may head for farther drop toward 39.40
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 45.60 48.35
  LEVEL2 44.00 48.75
  LEVEL3 43.00 49.80
 
   
 
 
 
 

GOLD

  Gold

1281

Market managed to advance from 1257 where managed to hit above 1282 in signs of support zone at 1257 still holding the uptrend market

as long as market holding above 1257 the chance for market to build uptrend wave toward 1305-10 zone still valid

below 1257 expect farther drop to test trend line around 1240 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1257 1295
  LEVEL2 1235-40 1305-10
  LEVEL3 1225 1325
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17550


Market managed to hit below 17540 last Friday where market is facing support zone at 17400-50 as we advised last week

as long as market holding above 17380 will expect another advance wave toward 18000 zone

below 17380 market may head for farther drop correction toward 17150 before we expect from there another rebound correction toward 17900
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17380 17590
  LEVEL2 17150 17735
  LEVEL3 16950 17880
 

Source: www.orbex.com

Read 245 times Last modified on Monday, 16 May 2016 17:11

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