Pound & the rebound correction. Analysis for February 16, 2015

February 16, 2015

EUR/USD 1.1415
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
U.S labor market data managed to add more drop pressure over short-run
mid-run seeing trading zone between 1.0800 - 1.2000 for the rest of this year
as market failed to break above 1.1535 resistance zone , market managed to retreat after U.S jobs market data , while target still as we advised before to test 1.1220-60 zone
market still searching for father drop over short-run to test 1.0800 - 1.0900 zone
as long as market holding trades below 1.1535 the downtrend pressure will sustain toward 1.0800 - 900 zone
above 1.1535 market may initiate farther rebound toward 1.1720 zone
Daily Trend: Down
Weekly Trend: Down
LEVEL1 1.1220-60 1.1480
LEVEL2 1.1100 1.1535
LEVEL3 1.1000 1.1625

GBP/USD: 1.5375
Pound & the rebound correction
as we see over the chart market managed to obtain daily close above 1.5380 which may provide farther rebound movement toward 1.5580 zone
market support zone now around 1.5200 where as long as market sustain trades above 1.5200 the target will remain toward 1.5580
below 1.5190 expect 1.5070-80 zone
Daily Trend: Down
Weekly Trend: Down
LEVEL1 1.5295 1.5425
LEVEL2 1.5195 1.5485
LEVEL3 1.5070 1.5580

USD/JPY: 118.60
Japanese Yen on uptrend wave
market managed to obtain drop correction after testing resistance level of 120.80
market managed to hit 120.45 last week before market retreated fast on speculation that Yen may halt his depreciation against Dollar this year
so far indicators still seeing ability for market to hold trading zone between 121.50 - 113.80
market still holding chance to sustain advance to test 121.20-50 zone , while as long as market holding trades below 121.85 expect another drop correction toward 113.85
first support zone at 118.35 where as long as market holding trades above this zone expect 121.20-50
Daily Trend: Up
Weekly Trend: Up
LEVEL1 118.35 120.45
LEVEL2 117.15 121.20-50
LEVEL3 116.00 121.85

Crude Oil
Oil (H5) 52.95 ...... old contract
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
market managed to rebound above 52.50 which allowed market for bigger rebound toward 54.20
market may hold the short-run trades inside 45 - 60 zone
as long as market holding trades below 54.25 expect another drop to test 45.50 - 46.00 zone again
above 54.25 market may sustain rebound toward 56.50 and 58.50
Daily Trend: UP
Weekly Trend: Down
LEVEL1 47.30 54.25
LEVEL2 44.80 56.60
LEVEL3 43.50 58.50

GOLD 1234
Drop pressure back to affect Gold
market back to dump haven as europe negotiating to keep Greece in the union block while Russia-germany-france meeting over ukrainian crises helped to dump haven more
while market faced more drop pressure on Ukraine Cease-Fire Deal
market managed to hit low of 1217 last week while downtrend pressure still affecting market to test 1195-99 zone
as long as market holding trades below 1255 the downtrend pressure will sustain over short-run toward 1195-99 zone , while first resistance at 1245
as long as the daily close sustain below 1270 the downtrend wave will sustain toward 1180 , any daily close above 1270 will restore the short-run uptrend movement
Daily Trend: Down
Weekly Trend: Up
LEVEL1 1217 1245
LEVEL2 1210 1255
LEVEL3 1195-99 1268

Dow Jones: 17970
Equity on trading zone
market managed last week to add more advance toward 18000 zone
above 18050 market may activate more advance toward 18250-300 zone
market may hold short-run trading zone between 17000 - 18300
so far market still showing resistance zone around 18250-300 which may provide good short-sell zone there
as long as market holding trades below 18300 will expect another drop correction movement toward 17200
Daily Trend: UP
Weekly Trend: Up
LEVEL1 17775 18050
LEVEL2 17625 18230
LEVEL3 17490 18300

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