14.01.2015 - Technical view

The price of EUR/USD decreased and broke through the inclined resistance line. At the moment, the quotes are consolidated near its lowest level in nine years. Fixing the price below 1.1800 will be the reason for the continuation of the downward movement with a target at 0.1620. Growth is limited by the psychologically important level of 1.2000. We recommend holding short positions with a stop above 1.2250 and maintain a medium-term negative outlook.

Nearest resistance levels: 1.1860, 1.2000, 1.2165, 1.2250, 1.2360, 1.2500, 1.2560

Nearest support levels: 1.1800, 1.1620, 1.1500

The price of GBP/USD continues to consolidate below 1.5200. An attempt to resume the price fall was unsuccessful and quotes returned to previous levels. After a long consolidation, we expect strong price movement. In case of decrease quotations will reach the level of 1.5000. Signal for opening long positions with the targets at 1.5300 and 1.5500 will be fixing the price above 1.5200. We maintain our negative view on the British pound, but do not exclude the upward price correction.

Nearest resistance levels: 1.5200, 1.5300, 1.5500, 1.5750, 1.5800, 1.5960, 1.6000

Nearest support levels: 1.5000

The price of USD/JPY continued to fall and reached the lower boundary of the descending channel after breaking the strong support level at 117.40. Fixing the price below this level is the basis for the continuation of a downward movement with the objectives of 116.00 and 115.00. Growth within the correction is limited by the levels of 119.00 and the upper boundary of the channel. We expect a further fall in the price within the channel, but maintain a medium-term negative outlook.

Nearest resistance levels: 117.40, 120.00, 120.75, 122.00, 125.00

Nearest support levels: 116,00,115,00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD failed to gain a foothold above the level of 0.8160 and continued to fall. In the near future quotes will reach the level of a local minimum near 0.8040 and the psychologically important mark of 0.8000. For the breaking through this level will be needed a strong stimulus. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 0.8360.

Nearest resistance levels: 0.8200, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8040, 0.8000, 0.7600, 0.7500

The price of NZD/USD was able to overcome the level of 0.7750 and continued the downward movement. We estimate that in the near future decline of quotations will continue with the objectives of 0.7660 and 0.7620. Growth is limited by the upper boundary of the corridor 0,7620-0,7850. We recommend holding short positions with a stop above 0.7910 and maintain a medium-term negative outlook with the potential of reduction to 0.7500.

Nearest resistance levels: 0.7800, 0.7825, 0.7900, 0.8000, 0.8050, 0.8270

Nearest support levels: 0.7700, 0.7660, 0.7500, 0.7300

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.