10.12.2014 - Technical view
The price of EUR/USD continued the growth within the channel and reached its upper limit, but could not overcome it. At the moment, quotes fixed above the strong level of 1.2360 and are consolidated in the corridor 1,2360-1,2400. Overcoming the upper boundary is unlikely. We expect the resumption of the downward movement with objectives of 1.2200 and 1.2000 and recommend holding short positions with a stop above 1.2560. Our medium-term view also remains negative.
Nearest resistance levels: 1.2400, 1.2500, 1.2560, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000
Nearest support levels: 1.2360, 1.2200, 1.2000
The price of GBP/USD broke through the sloping resistance line and continued an upward movement. At the moment, the quotes are consolidated below 1.5700 and in case of price fixing above this mark and overcoming the level of 1.5750, we recommend to open long positions with the targets 1,5960-1,6000. We recommend to wait for confirmation of the signal for opening positions.
Nearest resistance levels: 1.5750, 1.5800, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400
Nearest support levels: 1.5600, 1.5500, 1.5300, 1.5000
The price of USD/JPY has broken through the lower boundary of the ascending channel and reached the level of 118.00, below which we recommend to set the stop. At the moment, quotes corrected upwards and fixed below the lower boundary of the channel and the level of 120.00. Considering these factors, we recommend to close long positions and in case of fixing the price below 118,00 - to open short ones with the target around 115.00. Our medium-term outlook remains positive.
Nearest resistance levels: 120.00, 122.00, 125.00
Nearest support levels: 118.00, 117.40, 115.00, 114.00, 113.00, 112.00, 110.00
The price of AUD/USD returned within the limits of the channel after it has broken through the inclined line of resistance. In this regard, we expect the price growth to the upper boundary of the channel. It should be noted that the change in the downward trend is unlikely. Despite the current upward momentum, we recommend holding short positions with the target at 0.8000 and maintain a medium-term negative outlook.
Nearest resistance levels: 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130
Nearest support levels: 0.8200, 0.8000
The price of NZD/USD is trying to stabilize above the strong level of 0.7660. In case of the stop of falling and price fixing within the channel, we can see the continuation of the correction to its upper limit. It is worth noting that the probability of a trend change of the price in the near future is low. We recommend holding short positions with the target at 0.7500 and stop above 0.7825. We also maintain a medium-term negative outlook.
Nearest resistance levels: 0.7780, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270, 0.8350
Nearest support levels: 0.7660, 0.7500, 0.7300