17.11.2015 - Technical view
Currencies trading and euro. The price of EUR/USD was able to overcome the support level at 1.0700 and continued to fall inside the descending channel. The current negative trend is likely to continue in the near future to the target levels near 1.0500. In case of correction, quotations may grow to the upper boundary of the descending channel and the level of 1.0800 above which we recommend installing a stop. We expect falling prices in the medium term and recommend holding short positions.
Nearest resistance levels: 1.0700, 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450
Nearest support levels: 1.0550, 1.0500, 1.0450, 1.0000, 0.9600
Currencies trading and British pound. The price of GBP/USD broke through the local inclined support line, and continued to decline along the sloping resistance line. Currently quotes are below the level of 1.5200, and this fact indicates a high probability of continuation of the negative dynamics of prices to the levels 1.5100 and 1.5000 in the near future. We recommend opening short positions with a stop above 1.5250. Our medium-term outlook remains negative.
Nearest resistance levels: 1.5200, 1.5250, 1.5350, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900
Nearest support levels: 1.5000, 1.4800, 1.4700
Currencies trading and Japanese yen. The price of USD/JPY could not continue to fall within the ascending channel and reached its upper limit. In case of continued growth, we expect achieving the next the target levels at 124.50 and 125.40. The probability of such a scenario according to our forecasts is above average. A drop in prices is limited by the lower boundary of the channel. We recommend holding long positions and maintain the medium-term negative outlook.
Nearest resistance levels: 124.50, 125.00, 125.70, 128.00, 130.00
Nearest support levels: 123.00, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00
Currencies trading and Australian dollar. The price of AUD/USD continues to decline within the descending channel after failed to overcome the resistance level at 0.7150. In the near future quotations will fall to the level of 0.7080, the overcoming of which will be the basis for further reduction of price to 0.7000 and 0.6900. Our medium-term outlook remains negative and we recommend holding short positions with a stop above the local maximum at 0.7150.
Nearest resistance levels: 0.7150, 0.7200, 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800
Nearest support levels: 0.7080, 0.7000, 0.6900, 0.6750, 0.6600, 0.6500
Currencies trading and New Zealand dollar. The price of NZD/USD after consolidation above the level of 0.6500, could break through this level of support that is the basis for the continuation of the negative dynamics of the prices with the first targets at 0.6400 and 0.6320. In case of correction, the price can return to the level of 0.6600, but such a scenario is unlikely. We recommend holding short positions and maintain the medium-term negative outlook.
Nearest resistance levels: 0.6500, 0.6600, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200
Nearest support levels: 0.6450, 0.6400, 0.6320, 0.6250, 0.6200