Euro tumbled after ُECB Draghi announced bigger QE. Market Analysis for January 26, 2015

January 26, 2015

EUR/USD 1.1235
Euro tumbled after ُECB Draghi announced bigger QE
Euro slump after Mr. Draghi announced bigger than expected quantitative easing which placed new drop pressure over Euro for short-run
market managed to fell below 1.1375 which initiate new downtrend wave that will target 1.0800 as first target
as we see over the chart, market now on downtrend wave which may target 1.000 for this year (possible at the end of this year) while technical showing market ability to test 0.9600 zone within the coming 2 years
short-run
market now trading inside the oversold zone , while ECB pressure still affecting market
market showing resistance at 1.1285 and 1.1375 , where as long as market holding trades below those levels expect the downtrend to sustain toward 1.0800-900 zone
zone of 1.0800 - 1.0900 would consider good zone to long-buy market within the coming 2 weeks

Daily Trend: Down
Weekly Trend: Down
 
SUPPORT RESISTANCE
LEVEL1 1.1110 1.1290
LEVEL2 1.1000 1.1350-75
LEVEL3 1.0920 1.1535


GBP/USD: 1.5000
Pound under drop pressure
market managed to fell after ECB announced QE program , while market managed to break below 1.5035 which initiate new downtrend wave that may target 1.4800 as first target
below 1.4800 market may add more drop pressure where target would be toward 1.4300-1.4400 zone
short-run showing resistance zone at 1.5060 , where as long as market holding trades below this zone the downtrend movement will sustain toward 1.4800 as first target

Daily Trend: Down
Weekly Trend: Down

SUPPORT RESISTANCE
LEVEL1 1.4885 1.5060-80
LEVEL2 1.4800 1.5160
LEVEL3 1.4725 1.5210


USD/JPY: 118.20
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 in the last last 2 weeks
market managed to jump above 118.00 which indicating that the last base around 115.50 may be the support base for the coming uptrend wave
market now showing ability to sustain advance where 121.00-20 zone would be the target , while drop risk will be below 115.50
below 115.50 market may sustain drop toward 113.80 where new opportunity to long-buy market will rise there

Daily Trend: Up
Weekly Trend: Up

SUPPORT RESISTANCE
LEVEL1 117.50 118.85
LEVEL2 116.95 119.95
LEVEL3 116.00 121.00-20


Oil (G5) 44.90
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 44.70 46.35
LEVEL2 42.00 47.50
LEVEL3 40.90 49.05


GOLD 1283
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 1296 which adding more advance for Gold where 1310 and 1325 is now possible targets
as we see over the chart market facing resistance trends around 1325-30 zone , which may face some selling positions at market there
if market failed to break above 1330 another drop toward 1270 will be expected where trading zone between 1270 - 1330 may occur
above 1330 market may gain mare advance

Daily Trend: Up
Weekly Trend: Up

SUPPORT RESISTANCE
LEVEL1 1279 1310
LEVEL2 1263 1325-30
LEVEL3 1255 1345


Dow Jones: 17530
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 at 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 17525-85 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
above 17585 market may sustain advance toward 17900 and maybe toward 18100

Daily Trend: Down
Weekly Trend: Up

SUPPORT RESISTANCE
LEVEL1 17150 17535-85
LEVEL2 16975 17720
LEVEL3 16800 17900

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