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03.08.2015 - Technical view

Currencies trading and euro. The price of EUR/USD has shown a sharp increase, reaching the upper limit of the downward channel, and a strong resistance level at 1.1080, but failed to overcome these levels and resumed the negative dynamics. According to our estimates, quotes, soon will reach the level of 1.0900 and continue to decline with the potential drop to 1.0700 and 1.0550. The price increase is limited by the level of 1.1080. We recommend keeping short positions with a stop above 1.1200. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD after a sharp rise reached the local maximum around 1.5675, but then started to decline and returned to the level of 1.5600, around which is consolidating at the moment. Falling is limited by an inclined level of support. We expect further consolidation of quotations within a triangle after going beyond which, we expect a strong price movement.

Nearest resistance levels: 1.5675, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY has grown to the important level of 124.25 and reached the mark of 124.50, but was unable to fix above these levels. For the continuation of growth with the closest objectives at 125.00 and 125.70, quotations must overcome these marks. Currently quotes are corrected downwards and may be reduced to the lower boundary of the rising channel. In case of reduction, signals for the opening short position will be fixation below the support at 123.00. Our medium-term outlook remains positive.

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

Nearest support levels: 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD after the strong growth of volatility has stabilized near the level of 0.7300. The growth of quotations in the near future is limited by the upper boundary of the descending channel. According to our forecast the decline will continue in the near future to the first target at 0.7200 and then the quotations may reach the psychologically important level of 0.7000. We maintain a medium-term negative outlook.

Nearest resistance levels: 0.7350, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000

Nearest support levels: 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD has broken through the lower boundary of the rising local channel and at the moment is consolidating near the important level of. 0.6600 The upward movement is limited by the resistance at 0.6700. We expect a further fall in price in the medium term and in the near future the first target will be 0.6500.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260

Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000

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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.
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