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18.09.2014 - Technical view

The price of EUR/USD after a long consolidation along the inclined support line, broke through it and started to decline sharply. As a result, at the moment the price has overcome the level of a local minimum and is trying to fix below 1.2860. The growth of price is limited by the level of 1.3000. We expect further price decline in the medium term with the objectives of 1.2800 and 1.2500.

Nearest resistance levels: 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350

Nearest support levels: 1.2860, 1.2800

The price of GBP/USD yesterday reached the upper limit of the downward channel, but could not overcome this level and started to decline within the channel. Now the price is consolidating above 0.6220. Confirmation of the signal of a trend change and a recommendation to buy will be fixing the price above the level of 1.6350. Fall is limited by the boundaries of the channel and support levels at 1.6200 and 1.6050. We are waiting for the signal to open positions.

Nearest resistance levels: 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670

Nearest support levels: 1.6200, 1.6050, 1.6000, 1.5500, 1.5000

The price of USD/JPY rebounded from the upper boundary of the rising channel after it consolidated above it for a long time. As a result, the price reached the next target of 108.50, and is likely to continue the upward movement with the objectives of 110.00 and 111.00. In case of correction, quotations may fall to 107.50. We maintain our positive outlook for the medium-term and recommend holding long positions.

Nearest resistance levels: 110.00, 111.00

Nearest support levels: 108.50, 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

The price of AUD/USD continued to decline after an unsuccessful attempt to overcome the resistance level of 0.9100. It should be noted that the quotes broke through psychologically important level of 0.9000 and after a minor correction will probably continue to decline with the objectives of 0.8900 and 0.8800. At the moment, there is no reason to expect a change in trend, and we maintain a medium-term negative outlook.

Nearest resistance levels: 0.9000, 0.9100, 0.9130, 0.9200, 0.9240, 0.9330, 0.9400, 0.9440

Nearest support levels: 0.8900, 0.8860, 0.8800

The price of NZD/USD accelerated the decline and has broken through the level of the nearest local minimum, which is a precondition for the continuation of the current dynamics and saving of short positions. Growth is limited by the level of 0.8200. Short positions should be closed in case price increase above 0.8350. We maintain a medium-term negative outlook with the objectives of 0.8100 and 0.8000.

Nearest resistance levels: 0.8270, 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560

Nearest support levels: 0.8100, 0.8000

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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