05.11.2014 - Technical view
The price of EUR/USD after consolidation under the level of 1.2500 continued to correct upwards and may soon reach the level of 1.2600. In case of continued upward trend and fixing the price above 1.2750, we recommend to close short positions and to wait for the next signal to open short positions. Currently there are no preconditions for changing the negative trend and we expect further price decline with the objectives of 1.2200 and 1.2000.
Nearest resistance levels: 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160
Nearest support levels: 1.2500, 1.2450, 1.2200, 1.2000
The price of GBP/USD is moving within a narrow side channel 1,5960-1,6000. Drop in prices is limited by the level of the nearest local minimum of about 1.5880. The most probable is the resumption of growth of the price of the British pound. Confirmation of the signal for the opening of long positions will be fixing the price above 1,6200. Our medium-term outlook remains positive.
Nearest resistance levels: 1.6000, 1.6200, 1.6300, 1.6400, 1.6450
Nearest support levels: 1.5960, 1.5880, 1.5800, 1.5600
The price of USD/JPY corrected down and fixed above the level of 113.00 and then continued upward movement. Currently quotations are trying to overcome the level of the nearest local maximum of 114.00. In case of success we forecast reaching the target level of 115.00. Fall is limited by the levels of 113.00 and 112.00. We recommend holding long positions with a stop below 110.00 and maintain a medium-term positive outlook.
Nearest resistance levels: 115.00, 120.00
Nearest support levels: 113.00, 110.00, 108.50, 107.60, 107.00, 106.00, 105.40, 104.70
The price of AUD/USD is consolidating below 0.8750 after rebounded from the support level at 0.8660. Further growth is limited by the price levels 0.8800 and 0.8925 above which we recommend to set a stop. Changing the downtrend in the near future is unlikely and we recommend holding short positions with the aim of around 0.7500. Our medium-term outlook also remains negative.
Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200
Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500, 0.8360
The price of NZD/USD corrected upwards after the rebound from the important level of 0.7700. To continue the upward movement the price needs to overcome the level of the nearest local maximum of about 0,7900. Growth of the price above the level of 0.8000 in the near future is unlikely and we recommend holding short positions on the New Zealand dollar and maintain our medium-term negative outlook.
Nearest resistance levels: 0.7800, 0.7950, 0.8000, 0.8050, 0.8270, 0.8350
Nearest support levels: 0.7740, 0.7700, 0.7500