20.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD continues to consolidate near the level of 1.1200, and fixing of price below this mark will be a strong stimulus for further negative dynamics with the objectives at 1.1050, 1.0985 and 1.0850. It is worth noting that in case of the rebound from the current levels, quotations may reach an inclined resistance line. Our medium-term outlook remains negative, despite the possibility of a rebound.

Nearest resistance levels: 1.1400, 1.1500, 1,1620, 1,1750

Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700

Currencies trading and British pound. The price of GBP/USD within the upward dynamics, approached to the level of 1.4670, and overcoming of this level will be the basis for the continuation of positive dynamics with the objectives at 1.4850 and 1.5000. The correction in the near future is possible to the levels of 1.4500 and 1.4400. In the coming weeks we may see a drop in prices, but after it there is a high probability of price increase with potential targets at 1.5000 and 1.5150.

Nearest resistance levels: 1.4670, 1.4850, 1,5000, 1,5150

Nearest support levels: 1.4500, 1.4400, 1.4040, 1.3840, 1.3600, 1,3500

Currencies trading and Japanese yen. The price of USD/JPY fixed above the level of 109.75, and this fact is the basis for the continuation of upward dynamics with closest targets at 111.00 and 112.15. In case of correcting quotations may return to an inclined support line and its penetration will cause further reduction in the price to 108.00. Our medium-term outlook remains positive.

Nearest resistance levels: 111,00, 112,15, 113.00, 114.70, 116.00

Nearest support levels: 109,75, 108,00, 106,60, 105,00, 103,40, 100,00

Currencies trading and Australian dollar. The price of AUD/USD corrected upwards after the recent decline, and at the moment is trying to gain a foothold below the level 0.7250, which will be the basis for continuation of negative dynamics of price with the objectives at 0.7120 and 0.7000. Our medium-term outlook remains negative, but we do not exclude the correction in the near future, with the potential of price increase to the level of 0.7400.

Nearest resistance levels: 0.7250, 0.7400, 0,7500, 0.7575, 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7120, 0.7000, 0.6840

Currencies trading and New Zealand dollar. The price of NZD/USD after a recent fall to the local minimum near 0.6720, started to correct upwards and can return to the level of 0.6820. In the near future, quotations may continue to consolidate around current levels, but the medium-term outlook remains negative.

Nearest resistance levels: 0,6760, 0,6820, 0,6940, 0.7050, 0.7200, 0.7400

Nearest support levels: 0,6575, 0.6450, 0.6400, 0.6320, 0.6250

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.