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21.11.2016 - ​Technical view

Currencies trading and euro. The price of EUR/USD came close to the target level at 1.0550 and in case of its breaking, we will probably see a further decline to 1.0450. According to our estimates, after a sharp decline of the previous days, increased the probability of upward price correction with the closest objectives at 1.0700 and 1.0850. The medium-term outlook remains negative with the potential of reaching the psychologically important level of 1.0000.

Nearest resistance levels: 1,0700, 1,0850, 1,0985, 1,1050, 1,1140, 1,1200, 1,1260, 1,1400

Nearest support levels: 1,0550, 1,0450, 1,0200, 1,0000, 0,9600

Currencies trading and British pound. The price of GBP/USD continued to decline along the inclined line of resistance after was able to overcome the support level at 1.2400. This fact is the basis for the continuation of the negative dynamics of price to 1.2200 and 1.2080. According to our forecast the decline will continue in the near future and the growth potential is limited by the inclined resistance line. Our medium-term outlook is also negative.

Nearest resistance levels: 1,2400, 1,2700, 1,2800, 1,3000, 1,3225, 1,3350, 1,3500, 1.3600

Nearest support levels: 1,2200, 1,2000, 1,1600, 1,1500

Currencies trading and Japanese yen. The price of USD/JPY continued the upward movement within the channel and reached the next target level of 111.00. Its breaking through will be a stimulus for continued growth to 112.15 and 114.00. In case of breaking through the lower boundary of the rising channel and fixing below it, the fall will continue until 108,00. Our medium-term outlook remains positive, but the risk of correction has increased.

Nearest resistance levels: 111,00, 112,15, 114.00, 117.00

Nearest support levels: 109,75, 108,00, 106,40, 105,00, 103,50, 101,40, 100,00, 99,00, 98,60

Currencies trading and Australian dollar. The price of AUD/USD accelerated the fall after breaking through the support at 0.7400. As a result, quotes reached a level of 0.7320 and then the negative dynamics may continue to 0.7250 and 0.7120. In case of correction, quotations may return to the levels of 0.7450 and 0.7500. Our medium-term outlook remains negative and we are waiting for the price reduction in the near future.

Nearest resistance levels: 0,7450, 0,7500, 0,7600, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD was able to break through the strong support level at 0.7050 and is currently consolidating around the psychologically important level of 0.7000. The next target within further fall will be 0.6820. The breaking of the upper boundary of the channel and the local maximum at 0.7050 will be the basis for continued growth to 0.7130 and 0.7200. Our medium-term outlook remains negative with potential targets at 0.6820 and 0.6600.

Nearest resistance levels: 0,7130, 0,7200, 0,7320, 0,7400, 0,7500

Nearest support levels: 0,7050, 0,6940, 0,6820, 0,6720, 0,6600, 0,6450

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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.
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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
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