Gold between deflation & Dollar hike. Daily Analysis for December 15, 2014

December 15, 2014

EUR/USD:1.2417

EURO on trading zone
As we see over the chart, market managed to jump above resistance zone of 1.2440-60, which may place the pair inside new trading zone. However, the market now trading between 1.2350 to 1.2480.
Market may sustain trades inside trading zone between 1.2250 - 1.2600 levels
Short-run
As long as market holding trades above 1.2360 expect another advance toward 1.2530 zone , while below 1.2360 expect 1.2270-90 zone
Daily Trend: Down
Weekly Trend: Down

SUPPORT RESISTANCE
LEVEL1 1.2360 1.2495
LEVEL2 1.2290 1.2530-40
LEVEL3 1.2220 1.2595

GBP/USD: 1.5665

 

Pound on trading zone
As we advised before, market managed to jump above 1.5625 which allowed farther rebound correction where market managed to hit our target 1.5700-20 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
short-run
Market may provide good zone for short-sell around 1.5770-90 , while as long as market holding trades below 1.5875 the downtrend wave will sustain toward 1.5380
Med-term
as long as market holding trades below 1.5875 the downtrend wave will sustain where targets will sustain toward 1.5380 zone
Daily Trend: Down
Weekly Trend: Down

 

SUPPORT RESISTANCE
LEVEL1 1.5625 1.5755
LEVEL2 1.5585 1.5825
LEVEL3 1.5540 1.5875

USD/JPY: 118.64

 

Japanese Yen on uptrend wave
Short-run
As we see over the chart, market managed to hit below 118.00 levels which may activate farther drop latter toward 115.00-50 zone
as long as market holding trades below 120.00 the short-run downtrend pressure will sustain toward 115.00-50 zone , while above 120.00 market may add more advance toward 120.75 and 121.10
short-run support at 117.95 and 117.45 where as long as market holding trades above this zone market will keep trying to jump above 120.00
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

 

SUPPORT RESISTANCE
LEVEL1 117.95 119.55
LEVEL2 117.45 120.00
LEVEL3 116.00 120.75

Oil (F5) 58.12

 

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
market managed to add more drop over Oil prices after the last forecast cut from IEA , where as long as market holding trades below 63.70 a farther drop would be expected over the med-run toward 50.00 levels
Above 63.70 markets may head for another rebound correction toward 68.50 - 69.50 zone
Daily Trend: Down
Weekly Trend: Down

 

SUPPORT RESISTANCE
LEVEL1 58.50 61.80
LEVEL2 57.20 63.00
LEVEL3 56.00 63.70

GOLD 1212

Gold between deflation & Dollar hike

market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate next year
while economic data from Europe and Japan showing slow down which may cause more deflation in prices which will affect Gold for more drop also next year
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 managed this week and finally to continue our projection path toward 1230-35 , which provided good zone to short-sell market , while as long as market holding trades below 1255 the downtrend pressure will back over the gold with first target toward 1195-1200 zone
above 1255 market may sustain advance toward 1280-85 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
SUPPORT RESISTANCE
LEVEL1 1215 1235-40
LEVEL2 1200 1255
LEVEL3 1195 1280

Dow Jones: 17350

 

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.
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 ( Which is Triggered ) ; at market as we advised last week
Short-run managed to hit below 17700 this week which hit the market for farther drop toward 17400-500 zone as we advised before
Zone of 17400-500 can provide good zone to re-long-buy market, while as long as market holding trades above 17200 the uptrend wave will sustain
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
Daily Trend: Up
Weekly Trend: Up

SUPPORT RESISTANCE

LEVEL1 17400 17570
LEVEL2 17290 17680
LEVEL3 17195 17760

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