03.04.2015 - Technical view

The price of EUR/USD has broken through the upper limit of the local descending channel and reached 1.0900. For the continuation of growth with the potential of reaching the levels 1,1000-1,1050, the price must be fixed above 1.0900. More likely is the resumption of the downward price movement with the first target at 1.0700, after breaking through which, quotes will continue to decline to 1.0500. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 1.1050.

Nearest resistance levels: 1.0900, 1.1000, 1.1100, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0700, 1.0500, 1.0400, 1.0100

The price of GBP/USD moves along the upper boundary of the local descending channel and may soon reach the level of 1.4700, which is located near the local minimum. Breaking of this support will be the basis for the continuation of the downward movement to 1.4500. Our medium-term outlook remains negative and the growth in the near future is limited by strong resistance at 1.5000.

Nearest resistance levels: 1.5000, 1.5150, 1.5200, 1.5300, 1.5350, 1.5500, 1.5550

Nearest support levels: 1.4700, 1.4500

February 28 of USD Performance

The price of USD/JPY keeps consolidating above the level of 119.50. The breaking of this level will become the basis for the continuation of the downward movement to 118.50. In case of resumption of growth, the price will rise to 121.00 and 122.00. Today we expect a strong increase in price volatility. We maintain our positive outlook for the medium-term and recommend holding short positions with a stop below 118.50.

Nearest resistance levels: 120.50, 121.00, 122.00, 125.00

Nearest support levels: 119.50, 118.50, 117.40, 116.00, 115.00, 114.00

The price of AUD/USD rebounded from 0.7550 the level of and currently has returned to the strong resistance level at 0.7600. In case of continued upward correction, quotations may rise to 0.7650. More likely is a continuation of the downward movement to 0.7500. We keep medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.7700, 0.7850, 0.7900, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7600, 0.7500, 0.7200

February 23 of USD Performance

The price of NZD/USD continues to correct upwards after the rebound from the support level at 0.7400. In the near future the price may continue the upward movement to 0.7600 and 0.7700. According to our estimates, the upward movement of price may be resumed in the near future. We recommend to wait for a signal to open new positions and expect increased volatility today.

Nearest resistance levels: 0.7600, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7500, 0.7400, 0.7310, 0.7200, 0.7000

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.