10.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD in the correction could not reach the level of 1.0800 and continues to consolidate within the range 1,0700-1,0800. In case of growth quotations may reach the upper limit of the downward channel and the level of 1.0900. According to our estimates, the price decline will continue in the near future and medium term, to the target levels around 1.0500. We recommend holding short positions with a stop above 1.0900.
Nearest resistance levels: 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450, 1.1500
Nearest support levels: 1.0700, 1.0550, 1.0500, 1.0450
Currencies trading and British pound. The price of GBP/USD has corrected upwards, and at the moment is above the level of 1.5100. Continued upward trend is limited by a strong resistance level at 1.5200. Today, the price is likely to consolidate around current levels and tomorrow is forecasted increase in volatility. According to our estimates the decline will continue in the near future and medium term, to the target levels at 1.5000 and 1.4800.
Nearest resistance levels: 1.5200, 1.5250, 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5000, 1.4800, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY reduced to the important level of support at 123.00 and then resumed growth. The next upside target level is 124.50, after overcoming of which quotations may continue its upward movement up to 125.40. Fall of prices in the near future is unlikely and is limited by the levels of 121,50-122,00. Our medium-term outlook is positive and we recommend holding long positions.
Nearest resistance levels: 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 123.00, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD after approaching the bottom of the channel and the level of 0.7000, stabilized and at the moment is consolidating in anticipation of new signals. Correction of price was weak. The possible growth is limited by the levels of 0.7080 and the upper border of the channel. According to our estimates, the fall will continue after the current consolidation to 0.7000, 0.6900 and 0.6800. Our medium-term outlook is negative and we recommend holding short positions.
Nearest resistance levels: 0.7200, 0.7300, 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 within the correction showed weak growth and renewed fall. Currently quotes are located near the local minimum at 0.6500 and after overcoming it will continue to decline to 0.6450 and 0.6250. Growth is limited by the closest maximum around 0.6650 above which we recommend setting a stop. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 0.6650, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200