Daily Market Analysis for January 01, 2014. EURO on Downward Breakout

14 January, 2015

EUR/USD 1.1755
EURO on Downward Breakout
Short-run
market managed to sustain drop movement as expected as Euro holds trades below 1.2040
market now showing trading zone where support at 1.1650-90 , while first resistance at 1.2040 zone
short-run still showing downtrend pressure where market managed to hit below 1.1875 zone which indicating the ability for market to head for testing 1.1650-90 zone
as long as market holding trades below 1.2040 expect 1.1650-90 zone

Daily Trend: Down
Weekly Trend: Down

SUPPORT RESISTANCE
LEVEL1 1.1690 1.2040
LEVEL2 1.1650 1.2105
LEVEL3 1.1550 1.2160


GBP/USD
GBP/USD: 1.5165
Pound under drop pressure
market managed to hit 1.5035 low before rebounding last Thursday
market rebound above support level of 1.5100 which indicating ability for farther rebound correction
as long as market holding the weekly close above 1.5100 the ability for short-run to obtain rebound correction will sustain where 1.5270 would be possible targets
any weekly close below 1.5100 market may enter new downtrend wave which may target 1.4800 and lower
resistance at 1.5340 where as long as market holding trades below this level the downtrend pressure will sustain

Daily Trend: Down
Weekly Trend: Down

SUPPORT RESISTANCE
LEVEL1 1.5100 1.5340
LEVEL2 1.5000 1.5460
LEVEL3 1.4925 1.5575


USD/JPY
USD/JPY: 117.00
Japanese Yen on uptrend wave
Short-run
market managed to obtain drop correction after testing resistance level of 120.80
market showing ability to sustain the drop correction , where as long as market holding trades below 120.80 the drop pressure will sustain toward 116.00 zone
market still trying to build a base for farther advance over the med-term , where market face 115.00-50 OR 113.80 which may be the base of the coming uptrend wave
the coming short-run trading zone may have big range deviate between 113.00 - 124.00 zone , where 113.00-80 would consider as good zone to re-long-buy the market
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 116.50 117.75
LEVEL2 115.50 118.85
LEVEL3 114.50 119.95


Crude Oil
Oil (G5) 46.35
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
Short-run
market managed to break below 50.00 which may construct new downtrend movement , where as long as market holding trades below 52.50 the downtrend will sustain where 40.00 levels will be possible target

Daily Trend: Down
Weekly Trend: Down

SUPPORT RESISTANCE
LEVEL1 44.75 47.30
LEVEL2 42.50 48.80
LEVEL3 41.00 50.00


GOLD
GOLD 1228
Gold between Haven & Dollar hike
market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate as soon as this April
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 this year year
market managed to obtain yearly close of 2014 below 1200 which holding the drop pressure over gold
short-run
market managed to hold rebound correction toward 1235 and 1245 as expected , while so far market still holding trades below 1255
as long as market holding trades below 1255 the downtrend pressure will back over short-run where first target will be toward 1220 and 1200
above 1255 market may sustain advance to test 1270-80 zone
Long-Run
long-run downtrend wave that we advise last 2 years still targeting 1100 , where as long as market holding trades below 1270-80 zone the target will remain toward 1100

Daily Trend: Up
Weekly Trend: Down

SUPPORT RESISTANCE
LEVEL1 1220 1245
LEVEL2 1200 1255
LEVEL3 1180 1270-80


Dow Jones
Dow Jones: 17480
Equity on trading zone
Dow managed to hit zone of 18000-100 last year which provided good zone to re-short-sell market as we advised before
as long as market holding trades below 18100 will expect some drop pressure to start affecting market where another drop correction toward 17200 may be expected, which already done last week
market may hold short-run trading zone between 17000 - 18100
market managed to restore strength after testing 17150-200 zone
market managed to rebound from our support zone 17150-200 where market hit target of 17800-900 zone
only a daily close above 18125-50 would activate a new uptrend wave
Long-Run
as we mentioned at the end of 2013 , Dow managed to head toward near 18000 by the end of 2014

Daily Trend: Down
Weekly Trend: Up
 
SUPPORT RESISTANCE
LEVEL1 17425 17585
LEVEL2 17375 17720
LEVEL3 17250 17860


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