17.12.2014 - Technical view

The price of EUR/USD broke through the strong level of 1.2500, but failed to gain a foothold above it. At the moment, the price corrected within the local rising channel. Further growth is limited by a strong resistance level at 1.2600. We recommend holding short positions with a stop above 1.2600. In the near future the price decline is likely to resume with the objectives of 1.2360, 1.2200 and 1.2000.

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

November 6, 2014 of EUR-USD Performance

The price of GBP/USD has broken through the important level of 1.5750, but failed to gain a foothold above it. At the moment the price is gradually decreasing. Today, we are forecasting an increase in volatility. If the price fixates above the level of 1.5800, we recommend to open long positions with a target near 1,5960-1,6000. Fall is limited by the level of 1.5600. We recommend to wait for a confirmation of the signal for opening new 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 rebounded from the bottom of the local descending channel and now consolidates near the level of 117.00. We recall that the price fixing below the strong level of 117.40 was the signal for the opening short position with a stop above 119.50 and targets at 115.00, 114.00 and 112.00. We forecast a fall in price in the near future and look forward to strong growth of volatility today.

Nearest resistance levels: 117.40, 120.00, 122.00, 125.00

Nearest support levels: 115.00, 114.00, 113.00, 112.00, 110.00

The price of AUD/USD accelerated the fall in the descending channel after some consolidation above 0.8200. According to our forecasts, in the near future quotes will reach the level of 0.8000. The growth of price in case of correction is limited by the upper boundary of the channel. We recommend holding short positions with a stop above 0.8360. Our medium-term outlook also remains negative.

Nearest resistance levels: 0.8200, 0.8360, 0.8550, 0.8700, 0.8800, 0.8900, 0.9000

Nearest support levels: 0.8000, 0.7600, 0.7500

The price of NZD/USD yesterday tried to fix above the resistance level at 0.7825 and the upper boundary of the channel, but after a failed attempt to start to fall, still continues the downward movement within the channel. In the near future quotations may continue to fall to the bottom of the channel and the support level at 0.7660. We recommend holding short positions with a stop above 0.7910 and maintain a medium-term negative outlook.

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.