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04.11.2016 - Technical view

Currencies trading and euro. The price of EUR/USD is trying to gain a foothold beyond the local ascending channel the border of which has broken through before. The growth of quotations in the near future is limited by the levels of 1.1140 and 1.1200. In case of resumption of negative dynamics and breaking through the support at 1.1050, we recommend to open short positions with the targets at 1.0900 and 1.0850, after which reduction may continue to 1.0700 and 1.0550. Our medium-term outlook remains negative and we expect a decrease in the near future.

Nearest resistance levels: 1,1140, 1,1200, 1,1260, 1,1400, 1,1500, 1,1620

Nearest support levels: 1,1050, 1,0985,1,0850, 1,0800, 1,0700, 1,0550

Currencies trading and British pound. The price of GBP/USD broke through the level of 1.2400 and in the near future may continue the rise to 1,2600-1,2700. Overcoming these levels is unlikely and in case of reduction quotations will return to the inclined support line. Our medium-term outlook remains negative and we are waiting for increased volatility in the near future.

Nearest resistance levels: 1,2600, 1,2800, 1,3000, 1,3225, 1,3350, 1,3500, 1.3600

Nearest support levels: 1,2400, 1,2200, 1,2000, 1,1600, 1,1500

Currencies trading and Japanese yen. The price of USD/JPY has slowed decline after has broken through the support level at 103.50. In case of continuation of negative dynamics, the first targets will be 101.40 and 100.85. According to our estimates, the volatility will be raised next week, and in case of the resumption of growth and overcoming the level of 103.50, we expect continued growth to 105.00 and 106.40. Our medium-term outlook remains positive and downside potential is minimal.

Nearest resistance levels: 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 103,50, 101,40, 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD was able to break through the upper limit of the downward channel, and at the moment is below the level of 0.7700. Overcoming the level 0.7730 will become the basis for continued growth of quotations to 0.7800 and 0.8000. According to our forecasts, the probability of price falling is high and we are waiting for reduction of quotations in the near future with the first targets at 0.7500 and 0.7450. Our medium-term outlook is also negative.

Nearest resistance levels: 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7600, 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD returned to the support level at 0.7300 and after breaking it may continue decline to 0.7200 and 0.7130. Further growth is limited by the resistance level at 0.7400. We expect a decline in prices in the near future, but the level of volatility will be high. Our medium-term outlook also remains negative.

Nearest resistance levels: 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7200, 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6600, 0,6450

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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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