EURUSD 2015-02-03

0 6

EUR/USD

1.1340

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

market managed to rebound this week as market hovering in the oversold zone , while downtrend pressure still affecting market

short-run

as we see over the chart , market managed to obtain rebound correction while market will face resistance zone at 1.1440-60 zone

market still facing the downtrend wave while market being in the oversold zone is holding market from any farther drop so far

as long as market holding trades below 1.1460 the downtrend will sustain which may face more drop in the coming weeks where targets still toward 1.0800 – 1.0900 zone , while any weekly close above 1.1400 may activate farther rebound toward 1.1750-70 zone

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.1230 1.1440-60
Level 2 1.1165 1.1565
Level 3 1.1100 1.1675

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