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16.02.2016 - Technical view

Currencies trading and euro. The price of EUR/USD after breaking through the inclined line of support and the level of 1.1200, continued to fall and in the case of fixation below the given levels will continue to fall to 1.1050 and 1.0985. In the near future we can see a small correction, but more likely the decline will continue in the near future. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1200, 1.1350, 1,1400, 1.1450, 1.1500, 1.1750

Nearest support levels: 1.1080, 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 inclined support level and soon with a high probability will decline to 1.4365. A breaking and fixation below this price level, will confirm the signal to sell with the objectives at 1.4080 and 1.4000. In case of resumption of growth, quotations will reach the level of 1.4500. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 1.4500, 1.4640, 1.4700, 1.4800, 1.5000, 1.5200

Nearest support levels: 1.4400, 1.4365, 1.4080, 1.4000, 1.3860, 1.3600

Currencies trading and Japanese yen. The price of USD/JPY after a strong growth within the correction has reached the important level of resistance at 114.70 and currently is consolidating below it. In case of correction, the price may rollback to 114.00 and 113.50. On the other hand, breaking of 114.70 will be a signal for further price growth with the objectives at 116,00 and 117,00. Our medium-term outlook remains positive, and we expect the resumption of growth in the near future.

Nearest resistance levels: 114.70, 116.00, 118.80, 120.20, 121.50, 122.30, 123.60

Nearest support levels: 113.00, 112.60, 111,00, 110,00

Currencies trading and Australian dollar. The price of AUD/USD is consolidating below 0.7180 and in case of breaking through this level may continue the upward momentum to 0.7350. A more likely scenario in the near future is the resumption of the negative dynamics with the first targets at 0,7000-0,7050 and then the decline may continue to 0.6840 and 0.6800. We forecast a drop in the near future and medium term.

Nearest resistance levels: 0.7180, 0.7350, 0.7400, 0.7500

Nearest support levels: 0.7000, 0.6840, 0.6800, 0.6750, 0.6600

Currencies trading and New Zealand dollar. The price of NZD/USD has shown a sharp decline and reached an important level of 0.6600 and the inclined support line. In case of breaking through these levels, we with a high probability expect a price drop to 0.6450 and 0.6350. In the near future, growth is limited by the resistance levels at 0,6700-0,6750. We are waiting for a confirmation of the signal to sell and forecast decline in the medium term up to 0.6000.

Nearest resistance levels: 0.6750, 0.6800, 0.6900, 0.7000

Nearest support levels: 0.6600, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200, 0.6000

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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