Daily Market Report 21-04-2016 by ORBEX‏

EUR/USD

EUR/USD

1.1300

As we advised yesterday, market fell below (1.1345) where managed to sustain drop toward support zone (1.1270-85) >

as we see over the chart, as long as market holding above 1.1260 the chance for the uptrend wave will sustain toward (1.4195)

below (1.1260) this may consider a break for (double top formation) where market may activate more drop to test support (1.1235) where below this support market downtrend wave may start toward (1.1150) and (1.1050-70) zone


	SUPPORT	RESISTANCE
LEVEL1	1.1345	1.1410-30
LEVEL2	1.1270-85	1.1495
LEVEL3	1.1235	1.1580

GBP/USD

GBP/USD

1.4355

As we see over our previous chart, managed to head for drop correction as we expected toward (1.4300-20) zone

as long as market holding above this support zone another bull wave will be expected toward (1.4450-60)

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	1.4360
LEVEL2	1.4240	1.4420
LEVEL3	1.4150-70	1.4460

USD/JPY

USD/JPY

109.75

As we see over our previous chart (old model still running), 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

above (111.00) market may enter new uptrend wave that may target (113.00) zone


	SUPPORT	RESISTANCE
LEVEL1	109.30	110.05
LEVEL2	108.75	110.70
LEVEL3	107.60-70	111.05

Crude Oil

Oil 6M - New Contract

44.30

Oil broke above (42.40-43.50) resistance zone which placed Oil on uptrend rally as US Oil output drop.

market now facing first support at (42.40-90) where as long as market holding above the uptrend rally will sustain toward (45.20) and (48.35)

below (42.40) market may add more drop correction before resume the uptrend wave as we see over the chart


	SUPPORT	RESISTANCE
LEVEL1	42.40-90	45.20
LEVEL2	39.40	48.35
LEVEL3	35.35	50.80

GOLD

Gold

1259

So far Gold still moving along side with our expectation where market held trading zone between (1240 - 1263) .

we will expect another drop correction toward (1245-50) zone before market resume uptrend to break above 1263 and head to test (1275) or (1283)

below 1240 market my back to test the old support zone again (1220-25)


	SUPPORT	RESISTANCE
LEVEL1	1240	1260-63
LEVEL2	1220-25	1275
LEVEL3	1208	1285

Dow Jones

US30 Dow-Jones

18120

As we mentioned yesterday, the Intraday trading levels suggest that Dow may hit trading zone as we see over our previous chart

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

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	18175
LEVEL2	17845	18270
LEVEL3	17775	18330-65

Source: www.orbex.com

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