08.10.2015 - Technical view
Currencies trading and euro. The price of EUR/USD gradually decreases along the sloping resistance line. The amplitude of price fluctuations is steadily decreasing, which is a sign of a strong price movement of quotations in the medium term. In case of breaking through the sloping resistance line and overcoming the mark of 1.1300, we expect a high probability of further growth of quotations to 1.1400 and 1.1620. On the other hand, breaking through the channel's lower border and fixation below 1.1100, will confirm a sell signal with the objectives at 1.1000 and 1.0850. Our medium-term outlook remains negative and we are waiting for a strong price movements in the near future.
Nearest resistance levels: 1.1300, 1.1400, 1.1450, 1.1500, 1.1620, 1.1700
Nearest support levels: 1.1200, 1.1100, 1.1000, 1.0850, 1.0800, 1.0700, 1.0550
Currencies trading and British pound. The price of GBP/USD stabilized above the level of 1.5300, after failed to overcome the mark of 1.5350. In case of further growth quotations reached the resistance level at 1.5460 and the upper limit of the downward channel. On the other hand, the fall in the near future, is possible till 1,5200-1,5250. Our medium-term outlook remains negative, but the likelihood of further growth in the near future is above average.
Nearest resistance levels: 1.5350, 1.5460, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5250, 1.5000, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY continued to decline and approached the inclined support line. Its break through will lead to further drop in prices with the target levels at 119.00 and 118.00. On the other hand, fixing above 120.50 will be the reason for achieving important resistance at 121.50. Given the long-term consolidation, we expect a strong price movement after its completion. Our medium-term outlook remains positive.
Nearest resistance levels: 121.50, 123.00, 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD corrected down after a confident increase in the recent trading days. The price was unable to reach the resistance level at 0.7260 and to fix above the resistance at 0.7200. According to our estimates, the price decline may continue with the objectives at 0.7080 and 0.7000. Growth is limited by a strong resistance at 0.7260. We maintain a negative medium-term outlook for the Australian dollar.
Nearest resistance levels: 0.7200, 0.7260, 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 did not fix above the important level of 0.6600 and reached the next resistance at 0.6700. In the near future we very likely will see continued price correction after the strong growth with the first targets at 0.6500 and 0.6450. Our medium-term outlook is negative, with target at 0.6000. In the case of opening short positions, we recommend setting a stop above the level of 0.6700.
Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000
Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000