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20.10.2014 - Technical view

The price of EUR/USD after consolidation below the level of 1.2825 started to decline and now is consolidating near the level of 1.2750 and will likely continue the current downward movement to the level of 1.2700 and the lower boundary of the local rising channel. For the continued growth, the price needs to gain a foothold above the level of 1.2825. Despite the current price movement within the local rising channel, we expect the resumption of price reduction in the medium term and recommend holding short positions.

Nearest resistance levels: 1.2825, 1.2925, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2700, 1.2600, 1.2500, 1.2450, 1.2200

The price of GBP/USD consolidates below 1.6125. In case of further growth and fixing of the price above 1.6200, we recommend to open long positions with a stop below 1.6125 and 1.6450 and objectives near 1.6630. In case of resumption of decline, the price can reach the levels 1.6000 and 1.5900. We expect growth of the price of the British pound in the medium term.

Nearest resistance levels: 1.6125, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.6050, 1.6000, 1.5880, 1.5800, 1.5600

The price of USD/JPY after two failed attempts to overcome the support level at 105.40, started to correct upwards and within the growth has overcome the strong level of 107.00. Fixing the price above this mark gives reasons to expect continuation of growth with the objectives of 108.50 and 110.00. Fall is limited by the support at 105.40. We maintain our positive outlook for midterm and expect a price increase today.

Nearest resistance levels: 108.50, 110.00, 111.00, 115.00, 120.00

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

The price of AUD/USD continues to consolidate near the upper limit of the corridor 0,8660-0,8800. Considering long-term price movement within the sideway corridor and reducing the amplitude of fluctuations of the price, we expect a sharp price movement in the near future. In case of overcoming the level of 0.8900, we recommend to close short positions and to open long ones. We maintain a medium-term negative outlook and recommend holding short positions with the targets near 0.8500.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500

The price of NZD/USD continues to consolidate above 0.7900. In case of further fall the price may reach the lower limit of the local rising channel. In case of continued growth, a signal of changing the negative trend will be the price fixing higher than a strong level of 0.8050. Despite the current increase, we remain a medium-term negative outlook.

Nearest resistance levels: 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7900, 0.7800, 0.7740, 0.7700, 0.7500

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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