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Daily Market Report 18-02-2016 by Orbex

 

 

EUR/USD

  EUR/USD

1.1125

As we see over the chart, Market still testing support zone 1.1110-30 several times within the last few days while market still holding so far above support 1.1070

as long s market holding above 1.1070 the market will have chance for another rebound toward 1.1300 zone , while below 1.1070 market will hit uncertainty zone between 1.0990 - 1.1080 while supports laying at 1.1070, 1.1050, 1.0990

the intraday trading zone showing market holding trades inside downtrend channel with low market liquidity which may sustain until U.S Inflation data come out this Friday

short-run showing downtrend pressure sustain as market holding below 1.1195 zone to visit 1.1050-70, while above 1.1195 market may start to gain strength for farther advance toward 1.1300-50 zone


 
 
SUPPORT RESISTANCE
LEVEL1 1.1110-30 1.1165-95
LEVEL2 1.1050-70 1.1250
LEVEL3 1.0990 1.1345
   
 
 
 
 

GBP/USD

  GBP/USD

1.4315

As we see over the chart, Market holding short-run trades inside tight zone where a potential of Reverse Head & Shoulder may control the market

market intraday trading zone may sustain between 1.4245 - 1.4345 while as long as market holding trades above 1.4235 this may a potential formation of Reverse H&S which may drive the market higher toward 14385-1.4405 resistance zone

above 1.4405 expect farther advance toward 1.4495 while below 1.4235 expect sustain drop toward target zone 1.4130-50
 
 
 
  SUPPORT RESISTANCE
  LEVEL1 1.4295 1.4345
  LEVEL2 1.4235-45 1.4385-1.4405
  LEVEL3 1.4130-50 1.4490
 
   
 
 
 
 

USD/JPY

  USD/JPY

113.85

Market rebound fast last week from 111.30 where Market now expecting BOJ to step in for Currency intervention to prevent USD/Japanese Yen from any farther decline below 110.00

BOJ may go for verbal intervention to reach traders that any farther decline in USDJPY may not be acceptable for policy makers

however market expecting that any prices below 113.50 may be zone of BOJ verbal intervention while below 110.00 market odds for direct currency intervention from BOJ will be high

Technical analysis view : Market managed to rebound above 113.50 which may give farther rebound correction toward 115.10

market facing Resistance levels at 115.10 and 116.20 where as long as market holding below one of those levels the downtrend pressure will sustain on any new turmoil that may hit the market with target toward 110.00

short-run showing support at 113.00-50 zone which may help USDJPY for another advance toward 115.10 , while below 113.00 downtrend pressure may resume
 
 
 
  SUPPORT RESISTANCE
  LEVEL1 113.50 115.10
  LEVEL2 113.00 116.20
  LEVEL3 111.70 117.50
 
   
 
 
 
 

Crude Oil

  Oil 6H - old Contract

31.48

Oil prices headed for more advance on Iran joining production freeze

as we see over the chart, market managed to hit above 31.50 which indicating ability for farther advance towrd 33.50 - 34.10 zone

as long as market holding trades above 30.40 expect farther advance toward 33.50 and above

below 30.40 market may add more drop to test 28.70-90 support zone
 
 
 
  SUPPORT RESISTANCE
  LEVEL1 30.40 32.40
  LEVEL2 28.70-90 33.50
  LEVEL3 27.00 34.50
 
   
 
 
 
 

GOLD

  Gold

1202

as we see over chart, market managed to break below support of the triangle model which may help market for another drop to re-test 1180-90 support zone

short-run indicators showing that as long as market holding above 1180 another rebound correction movement toward 1240 will be on table

below 1180 market may sustain drop toward 1145 zone
 
 
SUPPORT RESISTANCE
LEVEL1 1198 1215
LEVEL2 1190 1232
LEVEL3 1180 1245
   
 
 
 
 

Dow Jones

  Mini Dow-Jones

16475


Market managed to break above 16350 where managed to hold advance so far

as long as market holding above 16300 will expect farther advance to hit 16535 and 16700 levels

below 16300 market may head for another drop correction where support at 15985
 
 
 
  SUPPORT RESISTANCE
  LEVEL1 16300 16535
  LEVEL2 16200 16700-15
  LEVEL3 15985 16900
 
   

Source: www.orbex.com

 

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