EURUSD 2015-02-06

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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

mid-run seeing trading zone between 1.0800 – 1.2000 for the rest of this year


market managed to sustain advance where managed to test 1.1535 zone , market retreated from that zone indicating good resistance zone around 1.1535 , while any daily close above 1.1535 may activate another rebound toward 1.1730-70 zone

however as long as market holding trades below 1.1535 expect another drop toward 1.1260 zone , while above 1.1535 expect 1.1630 and 1.1730

U.S labor market data today may be expected to come below expectation which may give a push to Euro to sustain rebound correction toward 1.1630 nd 1.1730 , while any better than expected data may hit the Euro toward 1.1260 zone

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.1380 1.1485
Level 2 1.1310 1.1535
Level 3 1.1260 1.1630


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