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Daily Market Report 26-5-2016‏ by ORBEX

EUR/USD

EUR/USD

1.1190

As we advised yesterday, market managed to hold support 1.1110-30 while managed to rebound so far toward 1.1192

market still facing resistance at 1.1190 and 1.1245 where as long as market holding below 1.1245 another drop correction will be expected toward 1.1150-70 zone

above 1.1245 market will set new target toward 1.1340

below 1.1050 market may enter new downtrend wave which will target 1.0825-50 zone


	SUPPORT	RESISTANCE
LEVEL1	1.1110-30	1.1190
LEVEL2	1.1050-60	1.1245
LEVEL3	1.0900	1.1345

GBP/USD

GBP/USD

1.4705

Market managed to sustain advance toward our target 1.4720-40 zone

market facing support levels at 1.4660 and 1.4600 where as long as market holding above one of those support the chance for more advance toward 1.4800-50 zone will be available

below 1.4575 market may enter new drop wave that may target 1.4330-70 over short-run


	SUPPORT	RESISTANCE
LEVEL1	1.4660	1.4770
LEVEL2	1.4570-99	1.4820-50
LEVEL3	1.4525	1.4915

USD/JPY

USD/JPY

110.00

As we see over our previous chart, we advised market for another dip toward 109.50 before uptrend back to control market, while USD/JPY managed today to obtain that drop toward 109.40 before rebound above 110.00 again

above 110.60 we will expect farther advance toward 111.50-85 zone , while below 109.10 expect farther drop toward 108.20 zone


	SUPPORT	RESISTANCE
LEVEL1	109.10-20	110.60
LEVEL2	108.20-40	111.55-85
LEVEL3	107.40-50	112.50

Crude Oil

Oil 6N - new contract

49.80

As we see over our previous chart, market managed to head for drop correction toward 48.65 while we advised before that as long as market holding above 48.40 the uptrend wave will sustain toward 50.50-90 zone

below 48.40 expect farther drop toward support zone 47.20-40


	SUPPORT	RESISTANCE
LEVEL1	48.40	50.50-90
LEVEL2	47.25	52.00
LEVEL3	45.50	53.95

GOLD

Gold

1229

As we mentioned yesterday 'market managed to break below support 1238-40 2 days ago which triggered farther drop movement where market facing now support at 1218-20 zone which may give the market chance a rebound correction toward 1230-35 before downtrend resume'

market managed to move along with our expectations where managed to head for rebound correction from 1218 toward 1234 so far

as long as market holding below 1235 the downtrend pressure will sustain, while above 1235 market will have chance for farther advance toward 1250-55 zone where downtrend pressure will back again to affect market with resistance level at 1262

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	1235
LEVEL2	1209	1262
LEVEL3	1192	1285

Dow Jones

US30 Dow-Jones

17875

Market managed to sustain advanced as we advised before where Dow facing now 17935-55 resistance zone

as long as market holding below 17935-55 we will expect another drop wave toward 17540 zone before uptrend continue toward 18000-75 zone

while above 17955 market may sustain advance toward 18075 without any drop correction movement


	SUPPORT	RESISTANCE
LEVEL1	17740	17935-55
LEVEL2	17630-50	18075
LEVEL3	17480	18170

Source: www.orbex.com

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