06.11.2015 - Technical view

Currencies trading and euro. The price of EUR/USD has stabilized below 1.0900 after its recent breaking. Fixing the price below this mark is the basis for the continuation of falling of prices in the descending channel and the levels of 1.0800 and 1.0700. Growth is limited by the upper boundary of the descending channel and a strong resistance level at 1.1000. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450, 1.1500, 1.1620

Nearest support levels: 1.0850, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD showed a sharp decline after breaking through the important level of 1.5350. Currently quotes continue to decline after reaching a target level at 1.5200, and its breaking. Given the strong downward momentum, we expect a continuation of the negative dynamics of price in the near future to 1.5100 and 1.5000. Our medium-term outlook remains negative.

Nearest resistance levels: 1.5200, 1.5250, 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900

Nearest support levels: 1.5000, 1.4800, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY is trying to gain a foothold above the strong level of 121.50. In case of success, the upward movement of quotations will continue up to target levels at 123.00 and 124.50. Within the correction quotations may fall to the lower boundary of the rising channel. We recommend to open long positions and maintain the medium-term positive outlook.

Nearest resistance levels: 123.00, 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 121.50, 120.50, 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD after the decline within the channel, has stabilized around 0.7150 the level of, and may continue to decline in the near future to the target marks at 0.7080 and 0.7000. The probability of growth in the near future is minimal. We recommend holding short positions with a stop above 0.7260 and maintain the medium-term negative outlook.

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 decline within the descending channel and is trying to overcome the support level at 0.6600, and then will continue to fall to the target levels at 0.6450 and 0.6400. It is worth noting the possibility of upward price correction within channel with upside potential to 0.6700. We recommend keeping short positions and maintain the medium-term negative outlook.

Nearest resistance levels: 0.6700, 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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