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11.04.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continued to consolidate near strong level of 1.1400, and after the current consolidation, we forecast a strong price movement. The breaking of the bottom of the channel and fixing below it will be a signal to sell with potential targets at 1.1050 and 1.0985. In case of growth quotations may reach the psychologically important resistance level at 1.1500. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1350, 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD broke through the upper limit of the of the local downward channel after rebounded from the support level at 1.4050. In case of continued upward price dynamics and overcoming the nearest resistance at 1.4180, the growth will continue until 1.4400. The fall in the near future will probably resume, and we forecast a drop of price in the coming months with the objectives at 1.3840 and 1.3600.

Nearest resistance levels: 1.4180, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800

Nearest support levels: 1.4050, 1.3840, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY after the recent correction within local descending channel resumed falling and approached the support level at 108.00. After breaking of this level, the closest target levels will be 106.60 and 105.00. On the other hand, confirmation of a buy signal will be fixing above the local maximum at 109.00. Our medium-term outlook remains positive, and the potential for further fall decreased.

Nearest resistance levels: 110.60, 111.00, 112.15, 113.00, 114.70, 116.00, 118.80, 120.20

Nearest support levels: 108.00, 106,60, 105.00, 103.00

Currencies trading and Australian dollar. The price of AUD/USD corrected upward to the resistance level at 0.7576 and in the near future may continue to decline to the next targets at 0.7400 and 0.7240. On the other hand, in case of overcoming the inclined resistance line, quotes will likely continue to rise to 0.7700. Our medium-term outlook remains negative and we forecast increased volatility at the end of the week.

Nearest resistance levels: 0.7575, 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800

Currencies trading and New Zealand dollar. The price of NZD/USD was not able to continue the growth and rebounded from the inclined support line. In the near future, prices may continue its upward movement to the resistance at 0.6875 and 0.6960. Otherwise, breaking of the inclined line of resistance and local minimum at 0.6760, will be a strong signal to sell with the first targets at 0.6600 and 0.6450. Our medium-term view remains negative.

Nearest resistance levels: 0.6875, 0.6900, 0.7000

Nearest support levels: 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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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