04.12.2014 - Technical view

The price of EUR/USD after overcoming the strong support level of 1.2360, 1.2300 and reached the mark of the lower limit of the local descending channel. At the moment, the quotes are consolidated above this level, and can correct upwards. Growth is limited by the upper boundary of the channel and the level of 1.2500, above which we recommend to set a stop. Our medium-term outlook remains negative and we recommend holding short positions with the targets 1.2200 and 1.2000.

Nearest resistance levels: 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2360, 1.2200, 1.2000

The price of GBP/USD continues to consolidate within the triangle. Decrease in the amplitude of oscillations in the near future may lead to a strong price movement. A signal to sell will be fixing below 1.5600. Long position should be opened after fixing the price above 1.5750. At the moment, price continues to decline within the medium-term negative trend and there is no signal for its change.

Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5600, 1.5500

British Pound and US Dollar Forecast

The price of USD/JPY has updated highs and reached the psychologically important level of 120.00. To overcome this level will be needed a significant incentive. Today we predict the price consolidation below this mark. Fall is limited by the lower boundary of the channel and support at 118.00. After achieving the target level of 120.00, we recommend holding long positions with a stop below 107.40. We also maintain a medium-term positive outlook.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 118.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00, 108.50

The price of AUD/USD was not able to push off from the bottom of the channel and continued to decline along it. The growth of quotations in the near future is limited by the upper limit of descending channel and resistance level at 0.8550. In the near future drop in prices is likely to continue. We see no reason to change the negative trend and recommend holding short positions with the medium-term outlook of decline to 0.8000.

Nearest resistance levels: 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130

Nearest support levels: 0.8360, 0.8200

The price of NZD/USD after several unsuccessful attempts failed to overcome a strong support level at 0.7780 and continued to decline. At the moment, quotes reached the lower limit of the local descending channel and are continuing to decline. In the near future we may see an upward correction of price to the levels 0,7825-0,7850. Our medium-term outlook remains negative and the recommendation to hold short positions are still relevant.

Nearest resistance levels: 0.7780, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7660, 0.7500, 0.7300

Margin Graph

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