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03.07.2015 - Technical view

Currencies trading and euro. The price of EUR/USD rebounded from the level of 1.1050 and reached the upper boundary of the local descending channel. In case of continued growth quotations may reach the marks 1.1300 and 1.1400. According to our forecasts, the more likely is a continuation of the downward movement to the next target level at 1.1000, 1.0900 and 1.0700. Our medium-term outlook remains negative and we expect lower prices in the near future.

Nearest resistance levels: 1.1080, 1.1150, 1.1200, 1.1400, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0550

Currencies trading and British pound. The price of GBP/USD has stabilized near the level of 1.5600. In case of correction after the end of consolidation quotes can grow up to 1.5700. According to our forecasts, the price will continue falling in the near future to the target levels at 1.5500 and 1.5350. Our medium-term outlook remains negative and we expect the decline in prices in the near future.

Nearest resistance levels: 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5500, 1.5400, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY started to fall sharply and could not continue the growth after overcoming the level of 123.50. At the moment, the price has stabilized and, according to our estimates, will resume growth and reach the next target level at 124,00-124,25. The fall is limited by a strong support level at 122.50. We keep medium-term positive outlook and expect continued growth in prices in the near future to 125.00 and 125.70.

Nearest resistance levels: 123.75, 124.25, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD has shown a sharp decline, and broke through the strong support level at 0.7600. This fact is the basis for further falling of price in the near future to the levels of 0.7550 and 0.7500. The increase within the correction is possible to the level of 0.7650 and the upper boundary of the local descending channel. We expect a drop in prices in the medium term to 0.7200 and recommend holding short positions.

Nearest resistance levels: 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000, 0.8200, 0.8250

Nearest support levels: 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD resumed its decline after the upward rebound. At the moment, the price continues to move inside the descending channel and according to our forecasts, will continue to decline to 0.6600 in the near future. The growth of price within the correction is limited by the level of 0.6850. We keep a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.6700, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260, 0.7300, 0.7400

Nearest support levels: 0.6600, 0.6500, 0.6360

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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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