01.12.2014 - ​Technical view

The price of EUR/USD after it failed to overcome the level of 1.2500, started to decline and now is consolidating near the mark of1.2450. Growth is limited by the sloping resistance line in case of breaking through which, the price may rise to 1.2500 and 1.2600. We expect that in the near future quotes will reach the strong support at 1.2360, after breaking through which will fall to 1.2200. We recommend holding short positions with a stop above 1.2600 and maintain a medium-term negative outlook.

Nearest resistance levels: 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2400, 1.2360, 1.2200, 1.2000

The price of GBP/USD has broken the lower boundary of the channel, and after a sharp decline has reached a strong support level at 1.5600. In case of a rebound, the price can reach the level of 1.5700. We look forward to continuing the downward movement to a target level of 1.5500, but for this the price needs to break through 1.5600, which is unlikely today. Medium-term trend remains negative, and at the moment there is no reason to expect a change of dynamics.

Nearest resistance levels: 1.5735, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5600, 1.5500

The price of USD/JPY after it rebounded from the bottom of the local rising channel, continued to grow and has overcome the resistance at 118.70. This fact gives grounds to expect continuation of the upward movement up to psychologically important level of 120.00. The probability of this event in the near future is high and we recommend holding long positions and maintain a medium-term positive outlook.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 117.40, 115.00, 114.00, 113.00, 112.00, 110.00, 108.50, 107.60

Price of USD/JPY 2014

The price of AUD/USD opened the trading week with a gap down and has overcome the important support level at 0.8500. At the moment, quotes reached the lower limit of the local descending channel and is likely to begin correction and will close the gap. After consolidation below 0.8500, we expect further downward movement and maintain the medium-term negative outlook, as well as recommend holding short positions.

Nearest resistance levels: 0.8500, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130

Nearest support levels: 0.8360, 0.8200

The price of NZD/USD reached the local minimum near 0.7780, but after failed to gain a foothold below it and started to correct upward. Growth of the price of is limited by the upper boundary of the local descending channel. In case of fixing the price below 0.7780, we expect a drop in prices to the level of 0.7660. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7780, 0.7660, 0.7500, 0.7300

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.