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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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