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09.03.2015 - Technical view

The price of EUR/USD broke through the psychologically important level of 1.1000 and continued the downward movement. At the moment, quotes reached the lower limit of the downward channel and approached the next target level at 1.0800. In case of upward correction within the channel, the price may rise to 1.0900 and 1.1000. We expect further price decline in the near future and medium term, and recommend holding short positions with a stop above 1.1280.

Nearest resistance levels: 1.1000, 1.1100, 1.1280, 1.1450, 1.1500, 1.1620, 1.1750

Nearest support levels: 1.0800, 1.0500, 1.0300

The price of GBP/USD continued to fall and broke through the support level at 1.5200. As a result of the decline, the price approached to the target level 1.5000, but could not reach it. At the moment, the quotes are corrected upwards and in the case of continued growth can reach the level of 1.5200. The potential for further drop remains limited. We recommend holding short positions, but note the possibility of a trend change.

Nearest resistance levels: 1.5200, 1.5350, 1.5500, 1.5550, 1.5750, 1.5800

Nearest support levels: 1.5050, 1.5000

The price of USD/JPY bounced from the bottom of the local rising channel and continued growth within which broke through the local maximum at 120.50. According to our estimates in the near future quotes will reach the target level of 121.50. If the price fixates above this mark, we expect continued growth to 124.00. Our medium-term outlook remains positive and we recommend holding long positions with a stop below 119.50.

Nearest resistance levels: 121.50, 122.00, 124.00, 125.00

Nearest support levels: 120.50, 119.50, 118.50, 117.40, 116.00, 115.00, 114.00, 113.00

The price of AUD/USD broke through the lower limit of the corridor 0,7740-0,7840 and continues to decline. At the moment, quotations reached the level of 0.7700, and will likely continue to decline to a local minimum at 0.7650. In case of correction, the price can go back to the level of 0.7740. We expect a further decline of quotations in the medium term with a target level of 0.7500.

Nearest resistance levels: 0.7740, 0.7840, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7650, 0.7600, 0.7500

The price of NZD/USD after breaking through the oblique line of support and fixing under the local minimum at 0.7500, continued to fall and reached the target level of 0.7340. In case of correction, quotations may grow up to 0.7440. In case of continued downward movement, quotes, will reach the level of 0.7200. We recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 0.7440, 0.7500, 0.7600, 0.7620, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7340, 0.7200, 0.7000

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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