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14.10.2016 - Technical view

Currencies trading and euro. The price of EUR/USD was able to reach the next target level at 1.0985, but rebounded upwards and returned to the level of 1.1050. In case of continuation of correction, closest target will be 1.1100. According to our forecasts, the decline will continue in the near future and breaking through support at 1.0985 will be a signal to sell with targets at 1.0850 and 1.0700. Our medium-term outlook remains negative and we expect a reduction of quotations in the near future.

Nearest resistance levels: 1,1050, 1,1140, 1,1200, 1,1260, 1,1400, 1,1500, 1,1620, 1,1750

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

Currencies trading and British pound. The price of GBP/USD is still consolidating around the level of 1.2200, but came close to the upper boundary of the rising channel, breaking through which will be the basis for continued growth with the objectives at 1.2400 and 1.2500. We expect a further fall in prices in the near future with the first target at 1.2000, after which the negative dynamics may continue until 1.1800 and 1.1600. Our medium-term outlook remains negative.

Nearest resistance levels: 1,2500, 1,2600, 1,2800, 1,3000, 1,3225, 1,3350, 1,3500, 1.3600

Nearest support levels: 1,2200, 1,2000, 1,1600, 1,1500

Currencies trading and Japanese yen. The price of USD/JPY has resumed falling after the recent correction to the level of 103.50 and the lower limit of the downward channel. According to our forecasts, growth of price will continue in the near future with the first targets at 105.00 and 106.40. On the other hand, fixing the price below the level of 103.50, will be the basis for a decline to 102.80 and 101.40. Our medium-term outlook remains positive, and we expect growth in the near future.

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

Nearest support levels: 103,50, 101,40, 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD rebounded upwards after approached to an important level of 0.7500. Currently quotes are neat the inclined resistance line. In case of continued growth and overcoming the level of 0.7600, increase of quotations will continue to 0.7700. On the other hand, fixing below 0.7600 is a strong signal to sell with targets at 0.7450, 0.7320 and 0.7120. Our medium-term outlook remains negative.

Nearest resistance levels: 0,7600, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD after the rebound from the level of 0.7050, continued its growth and was able to overcome the upper limit of the local downward channel. In case of continued growth, quotes will reach a resistance level at 0.7200, fixing below which previously was a signal to sell. In order to continue the negative dynamics, with potential targets at 0.6820, 0.6600 and 0.6450. quotations need to fix below the level 0.7050. Our medium-term outlook remains negative and we expect a decrease in the near future.

Nearest resistance levels: 0,7130, 0,7200, 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7050, 0,6940, 0,6820, 0,6720, 0,6600, 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.
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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
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