04.02.2015 - Technical view
The price of EUR/USD reached the level of 1.1540, after breaking through the strong oblique line of resistance. At the moment, quotations are consolidated near the level of 1.1500. Further growth is limited by a strong resistance level at 1.1540 and 1.1620. At the moment, there is the possibility of renewed downward movement with the first target at 1.1280. We recommend holding short positions with a stop above 1.1620 and 1.1100 on the objectives and 1.1000. Our medium-term outlook remains negative
Nearest resistance levels: 1.1540, 1.1620, 1.1750, 1.1800, 1.1860, 1.2000
Nearest support levels: 1.1400, 1.1280, 1.1100, 1.1000, 1.0800, 1.0500
The price of GBP/USD rebounded from the strong support level at 1.5000 and reached the upper limit of the downward channel, but could not overcome it. In case of breaking the upper boundary of the channel and fixing the price above the level of 1.5200, we recommend to open long positions with potential of growth to the upper limit of the medium-term downtrend channel. It is worth noting the probability of a drop in prices to the level of 1.5000. We maintain our medium-term negative view and expect the price decline in the near future.
Nearest resistance levels: 1.5200, 1.5260, 1.5500, 1.5750, 1.5800
Nearest support levels: 1.5000, 1.4700, 1.4500
The price of USD/JPY within the channel reached 118.00, but could not continue the growth. In case of continued growth, the signals to open long positions will be breaking through the upper boundary of the descending channel and fixing the price above the level of 118.50. Fall is limited by the lower boundary of the descending channel. We maintain our positive outlook for the medium-term, but assume the possibility of reduction to 116.00 in the near future.
Nearest resistance levels: 118.50, 119.00, 120.00, 120.75, 122.00, 125.00
Nearest support levels: 117.40, 117.00, 116.00, 115.00, 114.00, 113.00, 112.00, 110.00
The price of AUD/USD could not overcome the level of 0.7650 and started to sharply correct upwards. As a result, quotations broke through an angled resistance line and approached the important level of 0.7860. In case of breaking this level, quotes will continue to rise up to 0.8000. At the moment, there is a great possibility of renewed downward movement with the potential of fall to local minimums. We maintain our medium-term negative outlook for the Australian dollar and recommend holding short positions with a stop above 0.8000.
Nearest resistance levels: 0.7860, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360
Nearest support levels: 0.7800, 0.7600, 0.7500
The price of NZD/USD rebounded from the support level at 0.7200 and started to rise sharply. Quotes broke through the inclined resistance line and the nearest local maximum of about 0.7300 and continued the growth. According to our forecasts quotations in the near future will continue to rise to 0.7500. We still recommend holding short positions with a stop above 0.7500 and maintain a medium-term negative outlook.
Nearest resistance levels: 0.7500, 0.7620, 0.7700, 0.7800, 0.7850
Nearest support levels: 0.7400, 0.7300, 0.7200, 0.7000