Market analysis

December 10, 2014

EUR/USD 1.2360
EURO under drop pressure
as we see over the chart, market still holding trades below downtrend swing where resistance now laying at 1.2440 zone
so far short-run showing trading zone between 1.2220 - 1.2440 as we see over the chart
below 1.2200 market may add more drop pressure to head toward 1.2130 and 1.2050 zone
so far market still holding downtrend wave where market expected ECB to head for broader asset purchase program , which may affect for more drop over Euro next year
as long as market holding trades below 1.2460 expect 1.2215-30 zone

Daily Trend: Down
Weekly Trend:Down


GBP/USD: 1.5650
Back to down trend
as we advised before , market managed to jump above 1.5625 which allowed farther rebound correction where market managed to hit near our target 1.5700 zone
as long as market holding trades above 1.5625 the uptrend will sustain while above 1.5720 expect 1.5780-90 zone
below 1.5625 the downtrend pressure will back where 1.5585 and 1.5540 will consider as support level
med-term
as long as market holding trades below 1.5870 the downtrend wave will sustain where targets will sustain toward 1.5380 zone

Daily Trend: Down
Weekly Trend: Down


USD/JPY: 120.00
Japanese Yen on uptrend wave
Dollar/Yen sustain uptrend movement as investors anticipate shinzo abe to win second term on election as prime minister
Short-run
as we see over the chart, market still holding trades inside short-run uptrend channel , where support laying at 119.00 and resistance at 123.30-50 zone
Market now trading inside overbought zone which may hit the market for drop correction movement, where 110.00 would be the main support on market
As market trading on the overbought zone , the pair may give good opportunity to short-sell market at 124.00 zone
as long as market holding trades above 119.00 zone market may sustain advance toward 123.25-50 zone
Long-Run
as long as market holding trades above 100.60 the long-run uptrend wave will sustain this year

Daily Trend: Up
Weekly Trend: Up


Oil (F5):63.50
Oil tumble after OPEC decision with no supply cut
Oil prices sustain drop after OPEC meeting where countries agree that no supply cut action
market managed to add more drop pressure after the International Energy Agency predicting the lowest demand growth since 2009
market still holding drop pressure over WTI where Global economic slowdown with reducing expected Oil demand add more drop pressure , where Japanese data show depend recession which indicating reduce demand for Oil
short-run
so far technical analysis seeing ability for short-run to hold trades between 60-00 - 70.00 zone , where as long as market holding trades below 70.00 farther drop would be expected over the med-run toward 50.00 levels
as we expected , market managed last week to head for rebound correction where tested 69.50 zone , while as long as the market hold trades below this suggested level the down-trend will sustain

Daily Trend: Down
Weekly Trend: Down


GOLD 1206
Gold between deflation & Dollar hike
market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate next yearwhile economic data from Europe and Japan showing slow down which may cause more deflation in prices which will affect Gold for more drop also
short-run
market managed to spark rebound correction as expected after U.S labor market data last month , where market managed to head to break above 1182 resistance zone
while the break above 1182 may activate short-run rebound correction toward 1230-35 zone , as we advised before
market now facing support at 1175 , where as long as market holding trades above 1175 expect more advance toward 1230-35 zone , below 1175 market may back to re-test 1150-55 zone
Long-Run
long-run downtrend wave that we advise last year still targeting 1100 , where as long as market holding trades below 1255 the target will remain toward 1100

 

Daily Trend: Up
Weekly Trend: Down

 


Dow Jones: 17790
Equity demand
with Equity market managed to obtain drop correction with less than 10% which indicating the sustain of Long-Run uptrend wave
market managed to jump fast in U.S equity after the last U.S GDP which indicating better than expected economic growth in U.S.A.
AS well the ECB decision about QE would support equity further , moreover , NFP numbers for last week pushed equities further to records high.
market managed to jump above resistance 17440 last month, which sending signals of ability to sustain advance toward up
short-run
market managed to test our projection target zone of 17950-90 , where market is expected to face resistance as long as market holding trades below 18000 zone
zone of 17950-90 provided short-sell opportunity at market as we advised last week
short-run now facing trading zone between 17700 - 17950 , while below 17700 market my head for farther drop correction toward 17500-25 zone
Long-Run
as we mentioned at the end of last year and early this year , Dow managed to head toward near 18000 by the end of this year

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