05.05.2015 - Technical view

Currencies trading and euro. The price of EUR/USD continues to decline gradually inside the rising channel. In case of breaking through the level 1.1100 and price fixing under the lower boundary of the rising channel. We expect continuation of falling prices to the levels 1.1000, 1.0900 and 1.0700. In case of rebound from the support level and the bottom of the channel, quotes, probably will reach a local maximum at 1.1280. Our medium-term outlook remains negative and we expect the signal to open new positions.

Nearest resistance levels: 1.1200, 1.1280, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.1050, 1.1000, 1.0900, 1.0800, 1.0550, 1.0500, 1.0400, 1.0100

Currencies trading and British pound. The price of GBP/USD continues to consolidate above the support level of 1.5100. In case of breaking through this mark, we expect a further drop in prices to 1.5000. The growth of price in the near future is limited by resistance levels at 1.5200 and 1.5350. We maintain a negative medium-term outlook and increased price volatility at the end of the week.

Nearest resistance levels: 1.5200, 1.5350, 1.5500, 1.5550, 1.5600

Nearest support levels: 1.5100, 1.5000, 1.4700, 1.4600, 1.4500

Currencies trading and Japanese yen. The price of USD/JPY after a rapid growth has stabilized above the mark of 120.00 and will probably continue to consolidate near these levels till Thursday when on the market will return Japanese investors after a long weekend. In case of continued growth, quotations will reach the levels 121.00 and 122.00. A drop in prices is limited by the support level at 119.50 and 118.50. Our medium-term outlook remains negative.

Nearest resistance levels: 121.00, 122.00, 125.00

Nearest support levels: 120.00, 119.50, 118.50, 117.40, 116.00, 115.00, 114.00

Currencies trading and Australian dollar. The price of AUD/USD broke through the support level at 0.7800, but failed to continue the downward movement and is currently shows strong growth. In case of the continuation of the upward movement, quotes will reach the level 0.8000 and may return within the ascending channel. More likely is the resumption of the downward price movement with the potential reduction to 0.7700 and 0.7550. Our medium-term outlook remains negative.

Nearest resistance levels: 0.7900, 0.8000, 0.8040, 0.8200, 0.8250

Nearest support levels: 0.7800, 0.7700, 0.7600, 0.7550, 0.7500, 0.7200

Currencies trading and New Zealand dollar. The price of NZD/USD keeps consolidating within the range 0,7500-0,7550. In case of continued growth quotations may grow to the level of 0.7620 and 0.7700. Overcoming the level of 0.7500 will be the basis for the continuation of the downward movement of price to the levels 0.7400 and 0.7200. We expect increased volatility in the near future.

Nearest resistance levels: 0.7620, 0.7700, 0.7740, 0.7800, 0.7850

Nearest support levels: 0.7500, 0.7400, 0.7310, 0.7200, 0.7000

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.