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Daily Market Report 22-03-2016‏ by ORBEX

 

EUR/USD

EUR/USD

1.1213

Market went for fast drop after Brussels deadly blasts where managed to test 1.1190 - 1.1200 support zone

so far market still holding below resistance 1.1250-60 which if continue new drop pressure may affect market to break below 1.1190 where target will be set then toward 1.1050-70 zone

from another side and above 1.1285 market will restore strength
SUPPORT RESISTANCE
LEVEL1 1.1190 1.1250-60
LEVEL2 1.1135 1.1285
LEVEL3 1.1050-70 1.1335

GBP/USD

GBP/USD

1.4280


British Bound managed yesterday to send signals of breaking below 1.4370 where managed today to fell fast after Brussels Attack where managed to hit first target 1.4290

so far market facing resistance at 1.4360-80 zone where as long as market holding below this zone will expect farther drop toward 1.4220 and 1.4120-40 zone

above 1.4400 market may restore strength again
SUPPORT RESISTANCE
LEVEL1 1.4220 1.4360-80
LEVEL2 1.4120-40 1.4415
LEVEL3 1.4050 1.4470

USD/JPY

USD/JPY

111.67

Market managed to hit the edge of resistance zone 112.20-60 where managed to retreat from that zone toward 111.38

as long as market holding trades below 112.20-60 zone will expect farther drop pressure toward 110.00 zone

above 112.60 market will face 112.95 and 113.45 resistance levels
SUPPORT RESISTANCE
LEVEL1 111.00 112.20-60
LEVEL2 110.00 112.95
LEVEL3 109.00 113.45-65

Crude Oil

Oil 6K -

41.40

Market still hold uptrend over short-run while market built support zone at 39.80 - 40.00

as long as market holding above this support zone the uptrend will sustain where 45.00 will be the target

below 39.70 market may head for farther drop correction toward 37.70 zone
SUPPORT RESISTANCE
LEVEL1 39.80-40.00 42.60
LEVEL2 39.00 43.45
LEVEL3 37.70 45.10

GOLD

Gold

1251

Gold jump after Brussels Attack where managed to close to resistance zone of the downtrend channel 1262-65 as we see over the chart

as long as market holding below 1262-65 will expect farther drop toward 1215 zone

risk will be above 1265 where market will set unclear zone which may advance toward 1275 while resistance will set at 1285
SUPPORT RESISTANCE
LEVEL1 1250 1262-65
LEVEL2 1240 1275
LEVEL3 1225 1285

Dow Jones

US30 Dow-Jones

17585


Market managed to head for testing resistance trend line as we see over the chart and as we advised before

as long as market holding below 17700 will expect some drop correction toward 17150 support zone

above 17700 will expect farther advance where 18000-100 will be possible target
SUPPORT RESISTANCE
LEVEL1 17475 17650-700
LEVEL2 17400 17910
LEVEL3 17260 18000-50

Source: www.orbex.com

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