EURUSD 2014-12-18

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EURO on trading zone

As we see over the chart, market managed to jump above resistance zone of 1.2440-60, which may place the pair inside trading zone between 1.2250 – 1.2600 levels


market managed to sustain drop toward 1.2280 after Fed statement yesterday , while market still holding short-run trading zone between 1.2250 – 1.2600 for the end of this year

above 1.2600 market may sustain rebound toward 1.2750-80 zone , while as long as market holding trades below 1.2885 the downtrend wave will sustain for the med-term model

traders may watch the daily close for Euro , where any daily close above 1.2340 may activate farther rebound , while above 1.2375 this rebound correction may gather more momentum

market may offer opportunity to long-buy the Euro while risk will be if market fell below 1.2245 , as long as market holding trades above 1.2245 a rebound correction toward 1.2750 may hit the market , below 1.2245 market will face support at 1.2135

Daily Trend: UP
Weekly Trend: Down

  Support Resistence
Level 1 1.2245 1.2375
Level 2 1.2135 1.2525
Level 3 1.2040 1.2600


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