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04.09.2015 - Technical view

Currencies trading and euro. The price of EUR/USD broke through the sloping support line and after it the fall has stabilized above $ 1.1100. In case of further decline, quotes will reach the next target at 1.1000 marks and 1.0850. The growth is limited by the nearest resistance levels at 1.1200 and 1.1300. Our medium-term outlook remains negative and we expect increased volatility in prices today.

Nearest resistance levels: 1.1200, 1.1300, 1.1400, 1.1450, 1.1500, 1.1620, 1.1700

Nearest support levels: 1.1080, 1.1000, 1.0850, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD continues to fall within the local descending channel and according to our forecasts in the near future will reach the target levels 1.5200 and 1.5000. The growth is limited by the upper boundary of the descending channel and local levels of 1.5350 and 1.5460. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 1.5350, 1.5460, 1.5550, 1.5675, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY could not continue to grow and overcome the resistance level at 120.50 and now reduced within of local descending corridor. In the near future quotations will likely continue to fall to 118.00 and 117.00. For the continuation of growth, quotations need to break through the level 121.50. Our medium-term outlook remains positive.

Nearest resistance levels: 120.50, 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD continued to fall and broke through the important support level at 0.7000 and the lower limit of the medium-term descending channel. In case of correction, quotes will return to the level of 0.7200. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 0.7000, 0.7200, 0.7260, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.6750, 0.6600, 0.6500

Currencies trading and New Zealand dollar. The price of NZD/USD after correction to the level of 0.6400, renewed fall within the local descending corridor. In the near future there is a high probability of reaching the nearest support level at 0.6320, after which the decline may continue to 0.6200 and 0.6000. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 0.6400, 0.6500, 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080

Nearest support levels: 0.6320, 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.
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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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