Drop pressure back to affect Gold. Forex Analysis for March 02, 2015

March 2, 2015

EUR/USD 1.1210
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
EURO still holding trades near this year low as downtrend pressure still affecting market
Market managed to sustain drop where managed last week to head toward our targets 1.1220-60 zone while managed early today to print 1.1160 low
Market facing now first resistance at 1.1245 , while as long as market holding trades below 1.1300-10 the downtrend pressure will sustain toward 1.0700 - 1.0800 zone
above 1.1300-10 market may start to show rebound correction , where as long as market holding trades above 1.1100 and once obtain daily close above 1.1300 the rebound correction may add more signals to head toward 1.1650-75 zone
Daily Trend: Down
Weekly Trend: Down

GBP/USD: 1.5415
Pound & the rebound correction
as we see over the chart, market managed to hold uptrend rebound correction where managed last week to test 1.5550 zone
short-run showing support level around 1.5315 which as long as market holding trades above this zone the rebound correction may sustain toward 1.5580
below 1.5315 the drop pressure may back to affect the market for farther drop to test 1.5215 and maybe 1.5130 zone
Daily Trend: Down
Weekly Trend: Down

USD/JPY: 119.80
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

Crude Oil
Oil (5J) 49.20......
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 (which already done in the last 5 weeks)
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

GOLD 1216
Drop pressure back to affect Gold
market back to dump haven on Europe-Greek agreement 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 as we expected to fell to test 1195-99 support zone as we can see over the chart where market managed to attract more buyers as rebound correction
below 1167 market may head for another drop toward 1145 zone
as long as market holding trades below 1223 the downtrend pressure will sustain toward 1170
above 1223 market may add more advance where 1235-45 may become target for Gold
Daily Trend: Down
Weekly Trend: Down

Dow Jones
Dow Jones: 18155
Equity on trading zone
market managed last week to add more advance toward 18225 zone
so far market still have room to add more advance to tests 18250-300 zone
market may hold short-run trading zone between 17000 - 18300
Market managed to head for drop correction after testing 18225 last week , while market still facing support at 18035-75 zone
as long as market holding trades above 18035 the market may sustain advance to test 18250-300 zone .
from another hand, if market managed to hold trades below 18300 will expect another drop correction movement toward 17200
Daily Trend: UP
Weekly Trend: Up

Publication source
Orbex information  Orbex reviews

October 20, 2016
Markets want a hike
The market is getting very anxious, as everybody is waiting for the FED to increase the interest rates. This makes the currency swing from one extreme to another...
October 20, 2016
Asian stock markets mostly moved higher
Governor Poloz said they actively discussed adding more monetary stimulus before deciding to leave the policy rate unchanged...
October 20, 2016
Euro looks to ECB meeting as risks are balanced
The single currency could come under pressure as the ECB meeting is scheduled for later today. No policy changes are expected from the central bank as Draghi's whatever it takes remains the main keyword...

FBS Rating
HotForex Rating
HYCM Rating
FXTM Rating
FIBO Group Rating
FXCM Rating

OptionFair Rating
Binary Brokerz Rating
OptionBit Rating
Porter Finance Rating
TropicalTrade Rating
OptionsXO Rating