Daily Market Report 18-4-2016 by ORBEX‏

EUR/USD

EUR/USD

1.1305

our last view sustain at market as we see over the chart, the Old Mid-Run channel support still holding the pair above support, while a break above 1.1310-30 with daily close will restore strength over Euro to sustain advance toward 1.1495 zone.

from another hand as long as market holding below resistance 1.1310-30 the downtrend pressure will sustain for the Intraday trading levels toward 1.1150-70 zone


	SUPPORT	RESISTANCE
LEVEL1	1.1235	1.1310-30
LEVEL2	1.1150-70	1.1400
LEVEL3	1.1050-70	1.1495

GBP/USD

GBP/USD

1.4187

Market retreat from 1.4240 zone high of last Friday, while makrket managed to test another support line inside Intraday trading levels.

as long as market holding above 1.4125 will expect another try to obtain rebound correction toward 1.4300-20 zone, which may be able to increase toward 1.4380-1.4400 zone

below 1.4125 mrket may add more drop pressure to test 1.4005-30 zone and 1.3920-50 zone


	SUPPORT	RESISTANCE
LEVEL1	1.4125	1.4240
LEVEL2	1.4005-30	1.4300-20
LEVEL3	1.3920-50	1.4380-1.4400

USD/JPY

USD/JPY

108.40

so far USDJPY still holding trades inside our expected zone between 107.70 - 110.05

as long as market holding above 107.70 will expect another rebound correction toward 110.05 before market resume drop wave toward 106.60

while below 107.70 market may sustain drop to test 106.60 support zone


	SUPPORT	RESISTANCE
LEVEL1	107.70	109.10
LEVEL2	106.60	110.05
LEVEL3	105.15	111.00

Crude Oil

Oil 6M - New Contract

40.50

Market went for Gap open today as the outcome of Sunday’s summit of 16 oil ministers at Qatar failed to agreed on Oil production freeze as Iran refused to attend summit .

market now facing resistance level at 40.85, where as long as market holding below this zone the downtrend pressure will sustain , while market facing support level at 39.15

below 39.15 market may add more drop movement that may target 36.75 zone

above 41.00 market may restore some strength toward 42.00 zone


	SUPPORT	RESISTANCE
LEVEL1	39.15	40.85
LEVEL2	37.80	42.00
LEVEL3	36.75	42.50

GOLD

Gold

1239

Market managed to sustain drop where tested 1225 zone while as we see over the chart market will face support zone at 1215-20 for the uptrend line.

as long as market holding above support 1215-20 another rebound toward 1245-50 may be expected, while above 1263 market may sustain advance toward 1275 and 1285

below 1208 market will face new drop pressure to head for testing 1190-95 zone


	SUPPORT	RESISTANCE
LEVEL1	1215-20	1245-50
LEVEL2	1208	1263
LEVEL3	1190-95	1275

Dow Jones

US30 Dow-Jones

17877

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 sustain advance toward 18000-100 zone

below 17690 market may head again to test 17550 zone


	SUPPORT	RESISTANCE
LEVEL1	17690-730	18000
LEVEL2	17500-30	18100
LEVEL3	17400	18200

Source: www.orbex.com

Read 1099 times

Published in Forex Traders News

AllFXBrokers Administrator

Points:

Achievements:

More in this category: � USDCAD Technical analysis 18.04.2016 by Grand Capital‏ EURNZD Technical Analysis 18-04-2016 by PaxForex �

The World Preferred CFDs and Forex Exchange Provider