21.03.2016 - ​Technical view

Currencies trading and euro. The price of EUR/USD corrected downward inside the rising channel and in the near future may continue to fall to the level of 1.1200. The breaking of this level and fixation below it is a signal to sell with the first targets at 1.1050 and 1.0850. On the other hand, in the near future growth is limited by the levels of 1.1400 and 1.1500. We maintain our medium-term negative outlook for the euro, and expect the fall in the coming days.

Nearest resistance levels: 1.1350, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1200, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD corrected downwards after several unsuccessful attempts to overcome the resistance level at 1.4500. At the moment there is a good opportunity to open short positions with the closest target at 1.4180. In such case the stop should be set above 1.4500. The breaking of the mark 1.4500 in the near future is unlikely. Our medium-term outlook remains negative.

Nearest resistance levels: 1.4400, 1.4500, 1.4640, 1.4700, 1.4800

Nearest support levels: 1.4365, 1.4180, 1.4000, 1.3860, 1.3600, 1.3500

Currencies trading and Japanese yen. The price of USD/JPY continues to consolidate above the support level at 111.00. The breaking of this level will lead to the decline of price to 110.00 and 108.00. In case of opening long positions with potential targets at 114.70, 117.00 and 118.80, the stop should be set below the level of 110.60. Our medium-term outlook remains negative.

Nearest resistance levels: 113.00, 114.70, 116.00, 118.80, 120.20, 121.50, 122.30

Nearest support levels: 111,00, 110,00, 108,00

Currencies trading and Australian dollar. The price of AUD/USD after reaching the resistance level at 0.7675 and the upper boundary of the rising channel, started to correct and at the moment is trying to gain a foothold above the level of 0.7575. In case of continued negative dynamics, quotations reached the lower boundary of the rising channel. The signal about trend reversal will be breaking through support at 0.7400. Our medium-term outlook remains negative and we are waiting for a decline in the next few days.

Nearest resistance levels: 0.7700, 0,7800, 0,6000

Nearest support levels: 0.7500, 0.7400, 0.7350, 0.7240, 0.7120, 0.7000, 0.6840, 0.6800

Currencies trading and New Zealand dollar. The price of NZD/USD after reaching the inclined line of resistance and the level of 0.6875, started to correct may soon return to the lower boundary of the rising channel and the level of 0.6600. The growth of price in the medium term is limited by the levels of 0.6900 and 0.7000, and more likely is the resumption of negative dynamics of price with the potential of decline to 0.6450 and 0.6250.

Nearest resistance levels: 0.6900, 0.7000

Nearest support levels: 0.6800, 0.6600, 0,6560, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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.