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17.02.2016 - ​Technical view

Currencies trading and euro. The price of EUR/USD continues to consolidate below 1.1200 and fixation below this level is a signal for opening short positions with the potential of fall to 1.1050 and 1.0985. In case of resumption of growth, quotations may return to the inclined line of resistance and the level of 1.1400. In the near future we expect a drop in prices and maintain the medium-term negative outlook.

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 has shown a strong decline after has broken the sloping support line and fixed below it. Today we can see the correction with the upside to 1.4365. According to our forecast the price will continue to fall to 1.4200, 1.4080 and 1.4000 in the near future. Our medium-term outlook remains negative.

Nearest resistance levels: 1.4365, 1.4400, 1.4500, 1.4640, 1.4700, 1.4800, 1.5000, 1.5200

Nearest support levels: 1.4080, 1.4000, 1.3860, 1.3600

Currencies trading and Japanese yen. The price of USD/JPY could not continue to grow after reaching the resistance level at 114.70 and started to correct downwards. In case of further fall the price will reach the level of 113.00. We maintain our medium-term positive outlook, and in the case of price fixing above the local maximum at 114.70, we recommend to open long positions with the immediate goals at 116,00 and 117,00. Our medium-term outlook remains positive.

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 corrected down after it failed to overcome the resistance level at 0.7180. In near future the price with a high probability will reach the levels 0,7000-0,7050, the overcoming of which will be the basis for the continuation of the negative dynamics of price to 0,6800-0,6840. We maintain our medium-term negative outlook and expect the decrease in the near future.

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 broken through the level of 0.6600 and a sloping support line. Fixing the prices below given levels is a confirmation of the sell signal with the objectives at 0.6450 and 0.6350. In case of correction, quotations may return to the levels of 0.6600 and 0.6700. Our medium-term outlook remains negative and we expect a drop in prices in the medium term up to 0.6250 and 0.6000.

Nearest resistance levels: 0.6600, 0.6750, 0.6800, 0.6900, 0.7000

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

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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