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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

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