Euro tumbled after after Swiss Central Bank Ends Minimum Exchange Rate with Euro. Market Analysis for January 19, 2015

January 19, 2015

EUR/USD 1.1600
Euro tumbled after after Swiss Central Bank Ends Minimum Exchange Rate with Euro
market managed to sustain drop movement as expected as Euro holds trades below 1.2040 , where market showing target towards 1.1375 zone , while downtrend pressure sustain as market expected ECB to head for QE programme this week
Short-run
market managed to hit low of 1.1460 last week after SNB announcement to end Eur/Chf Cap exchange rate , while so far market still under drop pressure
market face over short-run resistance zone at 1.1650 where as long as market holding trades below this zone expect farther drop toward 1.1375
Daily Trend: Down
Weekly Trend: Down
SUPPORT RESISTANCE
LEVEL1 1.1525 1.1650
LEVEL2 1.1460 1.1785
LEVEL3 1.1375 1.1870


GBP/USD: 1.5160
Pound under drop pressure
market managed to hit 1.5035 low before rebounding 2 weeks ago
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 , already done at market last week
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 1.5270
LEVEL2 1.5000 1.5340
LEVEL3 1.4925 1.5460


USD/JPY: 117.25
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 which already done last week
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
as long as market holding trades below 118.10 the downtrend will sustain toward 113.80, above 118.10 market may start to build rebound market toward 121.20 zone
Daily Trend: Up
Weekly Trend: Up
SUPPORT RESISTANCE
LEVEL1 116.50 118.10
LEVEL2 115.50 118.85
LEVEL3 114.50 119.95


Crude Oil
Oil (G5) 48.50
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
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
above 52.50 market may sustain rebound correction toward 56.50 zone
Daily Trend: Down
Weekly Trend: Down
SUPPORT RESISTANCE
LEVEL1 47.30 49.30
LEVEL2 46.15 50.10
LEVEL3 45.15 51.70


GOLD 1275
Gold on demand as haven
market jumped into haven Gold after SNB announced last week the ending of exchange rate cap with Euro which placed demand for haven over short-run
market managed to jump above 1255 where managed to sustain advance while managed last friday to hit above 1277 zone
so far market showing ability to sustain advance toward 1296 , while support base would consider at 1238 , as long as market holding trades above 1238 the target will sustain toward 1296
above 1296 market may add more advance toward 1310 and 1325
Daily Trend: Up
Weekly Trend: Up
SUPPORT RESISTANCE
LEVEL1 1255 1296
LEVEL2 1238 1310
LEVEL3 1220 1325


 

 

 

 

 

Dow Jones


Dow Jones: 17365

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 twice so far t market

market may hold short-run trading zone between 17000 - 18100

market managed again to re-test support zone of 17150-200 while the rebound market was capped at 17525 zone

as long as market holding trades above 16970 market will hold chances for another rebound toward 17900-80 zone , while below 16970 market may initiate new downtrend wave that may target 16200 zone

zone of 17150-200 may offer again long-buy opportunity , where target would be toward 17900 , while risk market would be below 16970




Daily Trend: Down
Weekly Trend: Up
 



  SUPPORT RESISTANCE
LEVEL1 17150 17385
LEVEL2 16975 17535-85
LEVEL3 16800 17720

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