02.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD after the rebound from the support level at 1.0900 was able to correct upwards and currently is consolidating above 1.1000. Further growth is limited by the upper boundary of a local downtrend channel and resistance at 1.1100. Overcoming these levels is unlikely. On the other hand, we expect the resumption of the negative dynamics in the near future and reaching the marks 1.0900 and 1.0800. Our medium-term outlook remains negative with the target level at 1.0500.
Nearest resistance levels: 1.1100, 1.1200, 1.1350, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.1000, 1.0900, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD broke through the resistance level at 1.5350 and the upper limit of the local downward channel. In case of the continued growth, quotations will reach the resistance level at 1.5500, fixing above which will be the basis for opening long positions with the targets at 1.5675 and 1.5800. After the completion of the current correction, we expect a high probability of price fall and recommend to open short positions with a stop above 1.5500. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5350, 1.5250, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY is consolidating around important mark of 120.50, after the price has not been able to continue its growth and corrected downwards. Bulls expect fixation of quotations above the important resistance level at 121.50, which will be a strong buy signal with the objectives at 123,00 and 124,50. Within the fall quotations may reach the marks 119,00-119,50. Our medium-term outlook remains positive.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD after some consolidation above the level of 0.7080 and the lower boundary of a local downtrend channel, corrected upwards and can continue the current upward movement to the strong resistance at 0.7200. Fixing the price above this mark will be the reason for continued growth up to 0.7400, but according to our forecasts, there is a high probability of renewal of the negative dynamics of prices with the objectives at 0.7000 and 0.6900 after the completion of correction. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD has grown to the upper limit of the local downward channel and approached the level of 0.6800. Breaking through the level of 0.6800 will lead to further increase in prices upwards to 0.6900 and 0.7000, but according to our forecasts, in the near future, quotes will decline and now have the opportunity to open a short position with a stop above 0.6850 and immediate goals at 0,6600, 0.6450 and 0.6250. Our medium-term outlook remains negative.
Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6700, 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200