03.03.2016 - Technical view
Currencies trading and euro. The price of EUR/USD has stabilized and is consolidating around the level of 1.0850. The next upside target level is 1.0800, for the breaking of which will be needed a strong stimulus, and which will be the basis for the continuation of the negative dynamics with the first targets at 1.0700 and 1.0550. Within the correction, quotations may return to the upper boundary of the descending channel. Our medium-term outlook remains negative and we are waiting for a strong price movement tomorrow after the current consolidation.
Nearest resistance levels: 1.0900, 1.0985, 1.1050, 1.1200, 1.1350, 1,1400, 1.1450, 1.1500
Nearest support levels: 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD shows steady growth during which broke through the strong level of 1.4000 and reached the next resistance at 1.4080. In case of further increase of price, quotations will continue to rise to the upper boundary of the descending channel to the frames of which has recently returned. In case of resumption of the negative dynamics quotes will return to the level of 1.3860, after which the negative dynamic may continue until 1.3600 and 1.3500. Our medium-term outlook remains negative and the current growth potential is limited.
Nearest resistance levels: 1.4080, 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800
Nearest support levels: 1.4000, 1.3860, 1.3600, 1,3500
Currencies trading and Japanese yen. The price of USD/JPY continues moving inside the local rising channel and in case of breaking through and fixation above the strong resistance level at 114.70, we recommend to open long positions with targets at 117.00, 118.80 and 121.50 and the stop below 112.00. The fall of price in the coming weeks is limited by the level of support at 111.00. Our medium-term outlook remains positive, and we are waiting for confirmation of the signal to buy.
Nearest resistance levels: 114.70, 116.00, 118.80, 120.20, 121.50, 122.30
Nearest support levels: 114,00, 113.00, 112,00, 111.00, 110.00
Currencies trading and Australian dollar. The price of AUD/USD was able to break through the upper boundary of the triangle, consolidation above which is a signal to buy with potential targets at 0.7400 and 0.7500. In case of correction, quotations will return to the inclined support line. Our medium-term outlook remains negative, but the current growth may continue in the coming days.
Nearest resistance levels: 0.7350, 0.7400, 0.7500
Nearest support levels: 0,7240, 0.7120, 0.7000, 0.6840, 0.6800, 0.6750, 0.6600
Currencies trading and New Zealand dollar. The price of NZD/USD shows an increase in the result of which returned into the frames of the triangle. Further growth of price is limited by the level of 0.6750, breaking through which will lead to further growth of price until 0.6800 and 0.6900. In case of resumption of the negative dynamics the signal to sell will be fixation below the local minimum at 0.6560. We forecast a drop in the medium term and recommend to wait for the signal to sell.
Nearest resistance levels: 0.6750, 0.6800, 0.6900, 0.7000
Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000