EURUSD 2014-12-22

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EURO on trading zone

As we see over the chart, market still holding trades inside downtrend channel which still providing drop pressure over the pair


market managed to sustain drop toward 1.2220 last friday , while market still holding short-run trading zone between 1.2160 – 1.2560 for the end of this year

market facing resistance at 1.2300 and 1.2370 which as long as market holding trades below this level the downtrend will sustain toward 1.2180 and 1.2135 , while above 1.2370 market may hold short-run trades between 1.2160 – 1.2560

market facing good support at 1.2040 , where as long as market holding trades above this zone a rebound correction may be able to hit the market over the med-term

below 1.2040 market will face the Old support zone of 1.1875

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.2160-80 1.2300
Level 2 1.2135 1.2370
Level 3 1.2040 1.2480


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