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07.12.2015 - Technical view

Currencies trading and euro. The price of EUR/USD after the steady growth could not overcome the level of 1.1000 and started to correct downwards. Within the reduction, the first target will be the level of 1.0800, and then the fall may continue to 1.0700 and 1.0550. In case of resumption of positive dynamics and overcoming of resistance at 1.1000, quotes will continue to rise to 1.1100 and 1.1200. Our medium-term outlook remains negative and we recommend accumulating short positions.

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

Nearest support levels: 1.0800, 1.0700, 1.0550, 1.0500, 1.0450, 1.0200, 1.0000

Currencies trading and British pound. The price of GBP/USD is consolidating around the level 1.5100 after growth has stopped and started to be corrected downwards. In case of further growth quotations will continue the upward movement of prices to the levels 1,5200-1,5250. In the near future fall of quotes will likely continue to the nearest target levels at 1.5000 and 1.4900. Our medium-term outlook remains negative.

Nearest resistance levels: 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700, 1.5800

Nearest support levels: 1.5000, 1.4800, 1.4700, 1.4600

Currencies trading and Japanese yen. The price of USD/JPY after the rebound from the lower limit of the corridor 122,30-123,60, continued to grow and soon may reach the upper limit of the corridor. Its overcoming and fixation above 123.60 will be the basis for the continued growth to 124.50 and 125.70. The fall is limited by level of support at 122.30. Our medium-term outlook remains positive.

Nearest resistance levels: 123.50, 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD is consolidating above 0.7300 and in case of continued growth, will reach the level of 0.7400. Within the correction, quotes can be reduced to 0,7200-0,7250 and lower boundary of the descending channel. Our medium-term outlook remains negative and we expect price correction in the near future.

Nearest resistance levels: 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.7300, 0.7200, 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD was not able to reach the level of 0.6800 and to gain a foothold beyond the local rising channel and currently is corrected within its limits. The fall of price may continue to the levels 0.6600 and the lower boundary of the channel. We maintain a medium-term negative outlook with the targets of 0.6450 and 0.6250.

Nearest resistance levels: 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6650, 0.6600, 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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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