15.12.2014 - Technical view

The price of EUR/USD was unable to reach the level of 1.2500 and started to correct downwards. Given the strong resistance level, we expect the reduction of price to the first target near 1.2360. In case of return of the price to the descending channel, we expect a price drop to the levels 1,2200-1,2250 and the bottom of the channel. We recommend holding short positions with a stop above 1.2600 and maintain a medium-term negative outlook.

Nearest resistance levels: 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 continues to move in a narrow range below 1.5750. Given the long-term consolidation, we expect a strong price movement in the near future. In case of fixing the price above the level of 1.5800, we recommend to open long positions with the targets 1,5960-1,6000. Fixation below 1.5600 will be a signal to sell. 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 is consolidating near the level of 119.00, after it was not able to overcome the strong support level at 117.40. If the price will gain a foothold above 119.50, we recommend to open long positions with the immediate target near 122.00 and stop below 117.40. In the case of fixing quotations below 117.40, the price may fall to 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 has reached its lowest level since 2010 - 0.8200. At the moment, quotes continue to decline in the descending channel and is likely to continue to fall to the level of 0.8000. Growth is limited by the upper boundary of the channel and the resistance level at 0.8360. We recommend holding short positions and maintain a medium-term negative outlook for the Australian dollar.

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 after consolidation between the upper boundary of the descending channel and the level of support at 0.7780, broke through the support and continues to decline in the descending channel. The closest objectives are the bottom of the channel and the level of 0.7660. We recommend to open short positions with a stop above 0.7825. Our medium-term outlook remains negative.

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

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.