04.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD after overcoming the support level at 1.1000, has continued to fall and in the near future with a high probability will reach the level 1.0900, after overcoming of which according to our estimations will save the negative momentum and will reach the next level of 1.0800. The growth of quotations is limited by the upper limit of the downward channel. We expect the price decline in the near future and maintain the medium-term negative outlook.
Nearest resistance levels: 1.1000, 1.1100, 1.1200, 1.1350, 1.1450, 1.1500, 1.1620
Nearest support levels: 1.0900, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD after the recent volatility increase has stabilized and traders are waiting for new signals. Thus, on the one hand, consolidation of quotes above 1.5500 will be a strong signal to buy with the targets at 1.5675 and 1,5800, on the other hand, breaking of 1.5350 will lead to a continuation of the negative dynamics to the marks 1.5200 and 1.5000. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5350, 1.5250, 1.5200, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY after some consolidation near the level of 120.50, resumed growing and approached the mark of 121.50. In case of breaking this level, quotes will continue to rise to 123.00 and 124.50. The fall is limited by a sloping support line and the level of 120.50. Our medium-term outlook remains positive, but consolidation within the range 120,50-121,50 is likely to continue in the near future.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD reached the upper boundary of the downward channel, and the important resistance level at 0.7200. If the price fixates above these levels, growth will continue to 0.7300 and 0.7400. According to our estimates, more than likely is a drop in prices in a downward channel to the target levels at 0.7080, 0.7000 and 0.6900. We recommend opening short positions with a stop above 0.7300. Our medium-term outlook remains negative.
Nearest resistance levels: 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD continues to fall within the descending channel and will likely reach the bottom of the channel and the 0.6600 level of in the near future. In case of correction, the quotes can return to the level of 0.6700 and the upper boundary of the channel. We expect the price decline in the near future and recommend holding short positions with a stop above 0.6800.
Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6700, 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200