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23.05.2016 - Technical view

Currencies trading and euro. The price of EUR/USD after reaching the important support level at 1.1200, has stopped falling and is currently consolidating above this mark. In the case of correcting and breaking through the upper boundary of the descending channel, quotations will continue to rise to 1,1350-1,1400. In case of fixation of quotations below 1.1200, we recommend to open short positions with the targets at 1.1050 and 1.0985. Our medium-term outlook remains negative, but we do not rule out lowering the price in the near future.

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 after the recent reduction of quotations to the level of 1.4500 and local descending channel's lower border, bounced up, and can continue the current positive price dynamics with the targets at 1,4670-1,4700. Otherwise, fixation lower than 1.4500 will be the reason for the fall of quotations to 1.4400 and 1.4180. The volatility of prices in the coming weeks will be increased and in the short term we can see the growth.

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 is trying to gain a foothold above the important level of 109.75. Today quotations corrected downward and reached the inclined support line. The breaking and fixing the price below these levels will be the basis for changing the local uptrend with reduction potential to 108.00 and 106.60. Our medium-term outlook remains positive, and in the near future more likely will be continued growth with the objectives at 111.00 and 112.15.

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 broke through the upper limit of the downward channel and is currently trying to overcome the resistance level at 0.7250. If successful, the target will be 0.7400. Our medium-term outlook remains negative with a potential decline to 0.7000 and 0.6840, but the correction may continue in the coming days.

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 grows within the correction and with a high probability in the near future will reach 0,6820-0,6850. Fixing above the given levels will be the basis for continued growth and reaching the mark 0.6940. The fall in the near future is limited by the support at 0.6720. Our medium-term outlook remains negative with the objectives at 0.6450 and 0.6250, but the current upward momentum is likely to continue today.

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

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

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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.
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