Pound under drop pressure. Market Analysis for January 30, 2015

January 30, 2015

EUR/USD 1.1355
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
market managed to rebound this week as market hovering in the oversold zone , while downtrend pressure still affecting market
short-run
as we see over the chart , market managed to obtain rebound correction while market will face resistance zone at 1.1440-60 zone
market still facing the downtrend wave while market being in the oversold zone is holding market from any farther drop so far
as long as market holding trades below 1.1460 the downtrend will sustain which may face more drop next week where targets still toward 1.0800 - 1.0900 zone , while any weekly close above 1.1400 may activate farther rebound toward 1.1750-70 zone
Daily Trend: Down
Weekly Trend: Down
SUPPORT RESISTANCE
LEVEL1 1.1230 1.1440-60
LEVEL2 1.1165 1.1565
LEVEL3 1.1100 1.1675


GBP/USD: 1.5085

 

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
market managed yesterday to fell where tested 1.5000-40 zone , while market managed to obtain some rebound correction from that zone
as long as market holding trades above 1.4950 a farther rebound toward 1.5300-20 zone may be expected , while below 1.4950 expect market to sustain drop to test 1.4800-50 zone
below 1.4800 market may add more drop pressure where target would be toward 1.4300-1.4400 zone
as long as market holding trades below 1.5350 market may have chance for another drop to re-test 1.4800-50 zone , while above 1.5350 market will start showing more signals of ability for bigger rebound toward 1.5600
Daily Trend: Down
Weekly Trend: Down
SUPPORT RESISTANCE
LEVEL1 1.5000-40 1.5230-70
LEVEL2 1.4950 1.5330-50
LEVEL3 1.4800-50 1.5480

 


USD/JPY: 117.70

 

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

 


Crude Oil
Oil (H5) 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
market face good support at 39.45 zone , while below this zone market may head to re-test 35.00 - 36.00 zone
above 52.50 market may sustain rebound correction toward 56.50 zone
Daily Trend: Down
Weekly Trend: Down
SUPPORT RESISTANCE
LEVEL1 42.00 46.35
LEVEL2 40.90 47.50
LEVEL3 39.45 49.05


GOLD 1263
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
while European finance ministers agreed to work with the new Greek prime minister to keep the country in the euro which helped to dump safe haven demand
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
market managed to obtain drop correction where managed yesterday to test 1255 support zone , while as long as market holding trades above 1238 another rebound toward 1320-30 zone will be expected , below 1235 market may sustain drop toward 1180
Daily Trend: Up
Weekly Trend: Up
SUPPORT RESISTANCE
LEVEL1 1250-55 1285
LEVEL2 1238 1297
LEVEL3 1210 1310


Dow Jones: 17300

 

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
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
market managed to re-test 17150-200 zone again this week which provided good zone to re-long-buy market , where target now will set toward 17900 , while market risk would place stop order below 16970
Daily Trend: Down
Weekly Trend: Up
SUPPORT RESISTANCE
LEVEL1 17150 17485
LEVEL2 16975 17665
LEVEL3 16800 17900

 

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