EURUSD 2015-01-27

Posted on

EUR/USD

1.1285

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 for short-run

market managed to fell below 1.1375 which initiate new downtrend wave that will target 1.0800 as first target

as we see over the chart, market now on downtrend wave which may target 1.000 for this year (possible at the end of this year) while technical showing market ability to test 0.9600 zone within the coming 2 years

short-run

market managed to obtain rebound correction as market being in the oversold zone helped to attract more buyers

market managed to hit 1.1344 zone while market still holding trades below 1.1350-90 resistance zone

as long as market holding trades below 1.1390 we may face new drop pressure to sustain the downtrend movement

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.1220 1.1350-90
Level 2 1.1100 1.1460
Level 3 1.1025 1.1535
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