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07.08.2015 - Technical view

Currencies trading and euro. The price of EUR/USD is consolidated near the level of 1.0900, after it rebounded from the level of 1.0850. The growth of quotations in the near future is limited by the upper boundary of the medium-term descending channel overcoming of which in the near future is unlikely. According to our forecasts, today we will see a strong increase in volatility in the medium term fall in prices will continue to the target levels at 1.0700 and 1.0550.

Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD has broken the lower boundary of the triangle and reached the nearest target level of 1.5460, but failed to overcome it. In case of further decline, quotes will reach the level of 1.5350 and 1.5200. We expect increased activity of traders today and continued negative dynamics in the medium term.

Nearest resistance levels: 1.5550, 1.5675, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5460, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY could not continue to grow after reaching the mark of 125.00, and returned to the level of 124.50. The breaking of this level will lead to a further reduction of quotations to 123.00. According to our forecasts, the growth of price will continue in the near future and in the medium term to the levels of 128.00 and 130.00.

Nearest resistance levels: 125.00, 125.70, 128.00, 130.00

Nearest support levels: 124.50, 123.00, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD has shown a short-term upward movement inside the descending channel, but could not continue it and resumed a downward trend. Fixation higher than the level of 0.7400 will become the basis for further increase the price to 0.7500. A more likely scenario in the coming days and in the medium term is the further decrease in quotations with the objectives at 0.7200 and 0.7000.

Nearest resistance levels: 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000

Nearest support levels: 0.7250, 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD after the rebound from the support level at 0.6500 corrected upwards to the inclined resistance line. A further increase is limited by the important level of 0.6600. For the continuation of the downward movement, quotations will need to overcome the local minimum near 0.6500. We recommend to hold short positions and maintain the medium-term negative outlook.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260

Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000

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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.
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