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09.08.2016 - Technical view

Currencies trading and euro. The price of EUR/USD is consolidating after the recent decline and in the near future may continue to fall after overcoming the support level at 1.1050. In such case targets will be 1.0985 and 1.0850. The growth in the near future is limited by the inclined line of resistance and the level of 1.1200. Our medium-term outlook remains negative, and after a long consolidation, we expect a strong movement.

Nearest resistance levels: 1,1200, 1,1400, 1,1500, 1,1620, 1,1750

Nearest support levels: 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500

Currencies trading and British pound. The price of GBP/USD continued to decline during which overcame the resistance level at 1.3000. Fixation lower than this level will be the reason for further reduction of quotations with objectives at 1.2800 and 1.2600. Our medium-term outlook remains negative in the case of correction the price may rise to 1.3225.

Nearest resistance levels: 1,3350, 1,3500, 1.3600, 1.3840, 1.4040, 1.4500, 1.4670

Nearest support levels: 1,3225, 1,3000, 1,2800, 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY continued the growth within the descending channel and may soon reach its upper limit and the level of 103.50. Fixing the price above this mark will be the confirmation of a buy signal, with the objectives at 105,00 and 106,40. Our medium-term outlook remains positive, but within the current downward trend quotes may fall to 100.00 and 99.00.

Nearest resistance levels: 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 101,40, 100,00, 99,00, 98,60

Currencies trading and Australian dollar. The price of AUD/USD again failed to overcome the resistance level at 0.7650 and started to correct. In case of resumption of growth inside the rising channel quotes will continue to rise to 0.7700 and 0.7800, but the breaking through the bottom of the channel and fixing beyond its borders will be the reason for continuing negative dynamics of price with closest targets at 0.7500 and 0.7400. We expect a decline in the near future and medium term.

Nearest resistance levels: 0,7650, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7575, 0,7500, 0,7400, 0,7320, 0,7250, 0,7120, 0,7000, 0,6840

Currencies trading and New Zealand dollar. The price of NZD/USD опять не смогла преодолеть уровень сопротивления на 0,7650 и начала корректироваться. В случае возобновления роста в рамках восходящего канала котировки продолжат рост до 0,7700 и 0,7800, но пробитие нижней границы канала и закрепление за его пределами станет причиной для продолжения негативной динамики цены с ближайшими целями на 0,7500 и 0,7400. Мы прогнозируем снижение в ближайшее время и среднесрочном периоде.

Nearest resistance levels: 0,7130, 0,7250, 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7050, 0,6940, 0,6820, 0,6720, 0,6575, 0,6450

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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