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Daily Market Report 25-5-2016‏ by ORBEX

 

EUR/USD

  EUR/USD

1.1150

As we advised last week, market managed to sustain drop movement where missed target zone 1.1110-20 by 10 pips only

so far market showing ability for rebound correction where resistance at 1.1245 and 1.1345

below 1.1050 market may enter new downtrend wave which will target 1.0825-50 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.1120-40 1.1190
  LEVEL2 1.1050-60 1.1245
  LEVEL3 1.0900 1.1345
 
   
 
 
 
 

GBP/USD

  GBP/USD

1.4625

Market managed to sustain advance after breaking above 1.4575, while market facing more than scenario to apply

as long as market holding support zone 1.4565-85 the market will have chance for farther advance to test 1.4720-40 zone where above this zone market will face 1.4800-50 resistance zone

below 1.4565 market may add more signs of more drop to come toward 1.4375 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1.4565-85 1.4660
  LEVEL2 1.4480 1.4720-40
  LEVEL3 1.4375-85 1.4800-50
 
   
 
 
 
 

USD/JPY

  USD/JPY

110.20

As we see over the chart, market now facing resistance zone of 110.25-55 where as long as market holding below another drop movement toward 109.50 may hit the market where from there will expect another advance toward 111.55-85 zone

below 109.10 market may sustain drop where support at 108.20 and 107.40-50
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 109.10-20 110.25-55
  LEVEL2 108.20-40 111.55-85
  LEVEL3 107.40-50 112.50
 
   
 
 
 
 

Crude Oil

  Oil 6N - new contract

49.15

Market managed to head for another test for resistance zone 49.40-50 which managed to hold the market so far

market facing support level at 48.40 where as long as market holding above this support the uptrend will sustain toward 50.50-90 zone

below 48.40 will be sign of more drop yet to come toward 45.50 while market may face support at 47.25
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 48.40 49.50
  LEVEL2 47.25 50.50-90
  LEVEL3 45.50 52.00
 
   
 

 
 
 

GOLD

  Gold

1221

market managed to break below support 1238-40 yesterday which triggered farther drop movement where market facing now support at 1218-20 zone while may give the market chance a rebound correction toward 1230-35 before downtrend resume

below 1218 market will add more sign of continues drop toward 1209 and 1192 zone

in general zone of 1192 - 1209 will consider as support zone which may hit the market for rebound correction so nee to watch carefully
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 1218 1230-35
  LEVEL2 1209 1240-45
  LEVEL3 1192 1262
 
   
 
 
 
 

Dow Jones

  US30 Dow-Jones

17780


Market managed to hit above 17760 in signs of more advance yet to come

market show risk of ability for drop correction toward 17630-50 zone before resuming uptrend toward 18000 zone , where market may hold trading zone between 17630 - 17935 until US GDP data released this Friday

below 17630 market may head for another test toward 17380 zone
 
 
 
    SUPPORT RESISTANCE
  LEVEL1 17740 17800
  LEVEL2 17630-50 17935
  LEVEL3 17480 18000
 

Source: www.orbex.com

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