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Daily Market Report 18-5-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1270

Market managed o sustain drop as we advised before where market hit low 1.1256 so far

market still holding support level at 1.1220 where as long as market holding above this level will expect another rebound correction toward 1.1450 zone

market will face resistance at 1.1360 and 1.1450

below 1.1220 market may add more drop movement where support at 1.1150 and 1.1050
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1220 1.1360
  LEVEL2 1.1150 1.1395
  LEVEL3 1.1050 1.1450-70
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4415

Market managed to retreat from our resistance zone 1.4530-70 as we advised yesterday where market now facing potential support zone at 1.4335-70 zone

if this zone managed to hold the market another rebound correction toward 1.4500-30 zone will be expected

below 1.4300 market may continue the drop wave where support at 1.4200-20 and 1.4100
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4335-70 1.4450
  LEVEL2 1.4300 1.4500-30
  LEVEL3 1.4200-20 1.4580
 
   
 
 
 
 

USD/JPY

  USD/JPY

109.40

so far market still holding above support level 108.20 where managed to advance toward 109.40-65 zone

market still looking toward 110.00 zone while today FED minutes may control market movement

as long as market holding above 108.20 the Bull outlook will remain at market, while below 108.20 a risk for farther drop may hit the market toward 107.40-50 and 106.25 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 108.20 109.65
  LEVEL2 107.40-50 110.00
  LEVEL3 106.25 111.50-80
 
   
 
 
 
 

Crude Oil

  Oil 6N - new contract

48.45

the new contract managed to break above uptrend channel where market built support at 48.50 zone

as long as market holding above 48.50 will expect farther advance toward 50.50-90 zone where from there another drop correction toward 48.50-49.00 zone may hit the market

while below 48.50 market may add more drop risk where support laying at 45.50
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 48.50 49.40
  LEVEL2 47.00 50.50-90
  LEVEL3 45.50 52.00
 
   
 
 
 
 

GOLD

  Gold

1272

as we see over our previous chart, market built uptrend channel where market facing support at 1266-68 zone

as long as market holding above this support another wave toward 1295 may hit the market

below 1266 market will back again to face 1257 support zone which may hit the market for rebound correction toward 1285 again

below 1257 market may add more drop toward 1240 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1266-68 1281
  LEVEL2 1257 1289
  LEVEL3 1240 1295
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17520


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 17800
  LEVEL2 17150 17935
  LEVEL3 16950 18050
 

Source: www.orbex.com

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