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03.10.2014 - ​Technical view

The price of EUR/USD corrected to a strong level of 1.2700, but was unable to overcome it and went backwards. In case of continued growth, a signal of a trend change will be breaking through the slanting line and strong resistance level of 1.2825. We expect further price decline. After breaking through the level of 1.2600, the price will be heading to the targets at the marks 1.2500 and 1.2200.

Nearest resistance levels: 1.2700, 1.2825, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2600, 1.2500, 1.2450, 1.2200

The price of GBP/USD continues to fall despite an unsuccessful attempt to get a foothold outside the downward channel. We expect that in the near future the price will reach a local minimum of about 1.6050. Price reduction below this level is unlikely and we expect the resumption of upward dynamics with the closest target near 1.6300. Our medium-term outlook remains positive.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670

Nearest support levels: 1.6050, 1.6000, 1.5800

The price of USD/JPY has broken through the strong level of 108.50, which was the reason for the closure of long positions and returned to the rising channel. Currently quotations are consolidated near 108.50 the level of. Further growth is limited by the level of 110.00. In the near future we can see a continuation of the correction with the closest target of 107.00. We maintain our positive outlook for the medium-term, but recommend to re-open long positions with a view near 115.00, after fixing the price above 110.00.

Nearest resistance levels: 110.00, 111.00, 115.00, 120.00

Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

Japanese Yen Chart

The price of AUD/USD within the correction has reached the strong the level of 0.8800, but could not overcome it and continues to consolidate below this mark. In case of further growth and overcoming the level of 0.8925, we recommend closing short positions and to wait for the signal for the next moves. According to our estimates fall in prices will continue in the medium term and we recommend holding short positions with the target near 0.8500.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8700, 0.8660, 0.8600, 0.8550, 0.8500

The price of NZD/USD corrected to the level of 0.7900, and reached SMA50, but could not continue to grow and began to decline gradually. In the near future quotations will probably continue to decline with the nearest target level of 0.7700. Further growth is limited by the levels of 0.8000 and 0.8100. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350, 0.8400

Nearest support levels: 0.7820, 0.7700, 0.7500

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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