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Monday, 23 May 2016 11:51 Written by

Daily Market Report 23-5-2016 by ORBEX‏

EUR/USD

  EUR/USD

1.1210

As we mentioned last week, Market managed to hit below 1.1220 which indicate farther drop pressure to sustain over short-run where target now set toward 1.1110-20 zone

from that zone a rebound correction may hit the market toward 1.1360

below 1.1100 market will face the old support 1.1050-60 as support zone

as long as market holding trades below resistance 1.1230-50 the downtrend pressure will sustain
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1170 1.1230-50
  LEVEL2 1.1110-20 1.1280-90
  LEVEL3 1.1050-60 1.1360
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4485

As we mentioned last week, market managed to hit below 1.4525 in signs of more drop yet to come toward 1.4400-25 zone

market now facing resistance zone at 1.4560-75 where as long as market holding below this zone more drop will be expected toward 1.4400-25 zone

above 1.4575 market may head for farther rebound correction toward 1.4640-70 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4470 1.4560-75
  LEVEL2 1.4400-25 1.4640-70
  LEVEL3 1.4330-50 1.4725
 
   
 
 
 
 

USD/JPY

  USD/JPY

109.40

as we see over our previous chart, managed to test resistance zone 110.50-60 where failed to break above which drove for drop correction which managed to hit below 109.50 zone

market now facing support for the uptrend line around 109.20 which if managed to hold the market another rebound toward 110.00-25 zone may be expected

below 109.15 market may head again to re-test support zone 108.20-40
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 109.10-20 110.25-50
  LEVEL2 108.20-40 111.20
  LEVEL3 107.40-50 111.60-85
 
   
 
 
 
 

Crude Oil

  Oil 6N - new contract

47.85

As we mentioned last week, marker managed to obtain rebound correction as we expected while add more advance toward 49.28

as long as market holding below 49.50 another drop correction toward 47.50-80 will be expected (which already done today)

below 47.25 market may head to test 45.50-80 zone , while above 49.50 expect farther advance to test 50.50-90
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 47.25-50 49.50
  LEVEL2 45.50-80 50.50-90
  LEVEL3 44.00 52.00
 
   
 
 
 
 

GOLD

  Gold

1250

As we see over our previous chart for the last week, market managed to test support line 1240-44 and head for rebound correction so far toward 1259

market will have chance for another test toward 1244-46 which will be protected by support 1240 where if market managed to hold Gold above another rebound correction will be expected toward 1270-75

below 1238 market may head for farther drop toward zone 1210-15
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1240-44 1262
  LEVEL2 1225 1270-75
  LEVEL3 1210-15 1285
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17490


As we see over our previous chart, market managed to hit below 17380 in signs of more drop toward 17150 may hit the market

as long as market holding below 17640 the downtrend pressure will sustain over the short-run toward 17150 before we expect from there another rebound correction toward 17900

above 17640 market may head for farther advance toward 17760 and 17880
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17325 17640
  LEVEL2 17150 17760
  LEVEL3 16950 17935
 
   

Source: www.orbex.com

Read 182 times Last modified on Monday, 23 May 2016 11:51

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