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Daily Market Report 20-04-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1375

Market managed to build uptrend line inside intraday trading levels where support laying at 1.1345 zone.

as long as market holding above this one the uptrend may sustain where Euro facing resistance at 1.1410-30 zone

below 1.1345 market may head for another test for the uptrend channel where support now at 1.1270-85 zone

in general as long as market holding above 1.1235 our target will remain toward 1.1495

waiting ECB meeting tomorrow
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1345 1.1410-30
  LEVEL2 1.1270-85 1.1495
  LEVEL3 1.1235 1.1580
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4405

As we see over the chart, market managed to hit our second target (1.4380 - 1.4400) zone before obtain drop correction today toward (1.4345) on UK economic data.

we still see zone of (1.4310) is the support zone for the intraday uptrend wave while resistance laying at (1.4460) zone

below (1.4240) market will lose strength that may drive market back toward (1.4100) zone

above (1.4460) market may head to attack resistance (1.4515)
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4310 1.4460
  LEVEL2 1.4240 1.4515
  LEVEL3 1.4150-70 1.4585
 
   
 
 
 
 

USD/JPY

  USD/JPY

109.15

As we see over our previous chart, 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)

if market managed to break below (107.60-70) before testing (110.05) in this scenario market may head to test (106.60) and (105.20) zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 108.70 109.55
  LEVEL2 108.10 110.05
  LEVEL3 107.70 110.70
 
   
 
 
 
 

Crude Oil

  Oil 6M - New Contract

41.70

Oil retreat from highest level in 3-months after workers in Kuwait said they would end a strike that had disrupted crude output

while chart showing us some expected scenarios for the intraday trading levels, while a trading zone may hit the market for the coming short-run

support at 40-85 and 39.15 while resistance at 42.40 and 43.50
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 40.85 42.40
  LEVEL2 39.15 43.50
  LEVEL3 36.75 45.00
 
   
 
 
 
 

GOLD

  Gold

1248

Market met our target for 1245-50 yesterday

intraday trading levels suggest trading zone between (1240 - 1263) while such movement we illustrate over the chart

below 1240 market may head for another test for (1220-25) support zone, while above 1263 market will find resistance at 1275 and 1285
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1240 1260-63
  LEVEL2 1220-25 1275
  LEVEL3 1208 1285
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

18025

the Intraday trading levels suggest that Dow may hit trading zone as we see over the chart

market facing support at (17960) where as long as market holding above we will expect farther advance to test (18175)

below (17960) market may head for farther drop correction where next support at (17775), while as long as market holding above this support (17775) will expect another rebound from it toward (17960)
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17960 18100
  LEVEL2 17845 18175
  LEVEL3 17775 18340
 
   

Source: www.orbex.com

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