Daily Market Report (2016.01.26)

Daily Market Report (2016.01.26)

Source: Orbex Forex Broker (Review and Forex Rebates Up to 85%)

Economic Overview
U.S Dollar hold gains against most counterparties while Oil Declines After Saudi Aramco Says It’s Sustaining Investments in energy projects.

EUR/USD

1.0820

as we see over the chart, market still holding trades inside the expected trading zone while market back to obtain daily close below 1.0900 zone

market may sustain trading inside this zone for another period of time where resistance at 1.0990 & 1.1060 while support at 1.0775 & 1.0710

as long as market holding trades and daily close below 1.0900 the short-run downtrend pressure may sustain to visit 1.0635 zone

any daily close above 1.0900 will add strength to market to advance more where resistance still at 1.0990 and 1.1060.

GBP/USD

1.4260

Market managed to advance to re-test our resistance level 1.4360 as we can see on chart

market indicators showing ability for trading zone between 1.4080 – 1.4360 , while showing ability for more advance latter to re-test 1.4525 levels

while tomorrow BOE Gov Carney Speaks may add some volatility in market

zone of 1.4000 still consider as over-sold zone

USD/JPY

118.35

market still showing ability to sustain trading zone between 116.20 – 119.20 as we advised last week

as long as market holding below the 119.20 the short-run downtrend pressure may sustain for another visit to 115.60 – 116.20 support zone

main resistance for the current drop wave is at 120.50 where as long as market holding below this zone the downtrend wave will sustain, above 120.50 a new uptrend wave may start

Oil 6H –

31.40

Oil prices faces new drop pressure As Iran emerges from a decade of international sanctions while Saudi Aramco Says It’s Sustaining Investments in energy projects.

as we see over the chart market managed to rebound to re-test downtrend line while as long as market holding trades below 34.30 the downtrend pressure will sustain to test 25.50 zone

above 34.40 market may have chance to dd more advance to test 37.50-75 zone