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02.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continued strong growth after has overcome the resistance level at 1.1400. The next upside target levels in case of continued growth will be 1.1500 and 1.1620. On the other hand, in case of a fall, the closest target levels will be 1.1400 and 1.1200. Our medium-term outlook remains negative, but the growth may continue in the near future.

Nearest resistance levels: 1.1500, 1,1620, 1,1750

Nearest support levels: 1.1400, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD continued growth within the local rising channel. In case of continued positive dynamics, quotations will reach the levels 1.4700 and 1.4800. A signal to sell will be breaking through the rising channel's lower border, and the level of 1.4500. In such a case the target levels will be 1.4400 and 1.4180. Our medium-term outlook remains negative.

Nearest resistance levels: 1.4640, 1.4700, 1.4800, 1,5000

Nearest support levels: 1.4500, 1.4400, 1.4050, 1.3840, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY after breaking through the strong support level at 108.00, continued to rise and reached the next target level at 106.60, after breaking through which can continue to rise to 105.00. In case of correction, quotations may return to the level of 108.00. Our medium-term outlook remains positive, but we do not exclude the possibility of the continuation of negative dynamics in the near future.

Nearest resistance levels: 108,00, 109,75, 111,00, 112,15, 113.00, 114.70, 116.00, 118.80

Nearest support levels: 106,60, 105,00, 103,00, 100,00

Currencies trading and Australian dollar. The price of AUD/USD after a slight rebound from the rising channel's lower border, resumed negative dynamics and returned to this border. At the moment, there is a possibility of continuing movement within the channel and reaching the levels 0.7700 and 0.7800. In case of a fall, a confirmation of the signal to sell with targets at 0.7500 and 0.7400 will be fixation of quotations below 0.7575. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7575, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD continued to rise and reached the level of 0.7000. Fixation above this level will be the basis for further growth with the objectives at 0.7200 and 0.7400. According to our estimates, the drop in prices will resume in the near future, and in this case the closest targets will be 0.6900 and 0.6760. Our medium-term outlook remains negative, despite the possible continuation of growth in the near future.

Nearest resistance levels: 0.7000, 0.7200, 0.7400

Nearest support levels: 0,6940, 0,6760, 0.6600, 0.6560, 0.6450, 0.6400, 0.6320, 0.6250

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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.
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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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