23.09.2016 - Techical view

Currencies trading and euro. The price of EUR/USD started to correct downwards after reaching the resistance level at 1.1260 and retreated back to the important level of 1.1200. Overcoming this support will cause a further drop in prices to 1.1140, 1.1050 and 1.0985. On the other hand, the resumption of growth and breaking of resistance at 1.1260 will become the basis for the growth of quotations to 1.1350. Our medium-term outlook remains negative.

Nearest resistance levels: 1,1200, 1,1400, 1,1500, 1,1620, 1,1750

Nearest support levels: 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500

Currencies trading and British pound. The price of GBP/USD has resumed the fall after reached the upper limit of the local downward channel and could not overcome it. In case of resumption of growth, the nearest target levels will be 1.3225 and 1.3350. A more likely scenario, according to our estimates will be further decline of quotations within the channel with the first target around 1.2800. Our medium-term outlook remains negative.

Nearest resistance levels: 1,3225, 1,3350, 1,3500, 1.3600, 1.3840, 1.4040, 1.4500

Nearest support levels: 1,3000, 1,2800, 1,2600, 1,2500, 1,2200, 1,2000

Currencies trading and Japanese yen. The price of USD/JPY demonstrates the growth after failed to overcome the psychologically important support level at 100.00. The breaking of this level is unlikely, but we do not exclude consolidation above this level in the near future. In case of continued rising dynamics, and overcoming the level of 101.40, the next targets will be 103.50 and 105.00. We expect growth of price in the medium term.

Nearest resistance levels: 101,40, 103,50, 105,00, 106,40, 108,00, 109,75, 111,00, 112,15

Nearest support levels: 100,00, 99,00, 98,60, 97,00

Currencies trading and Australian dollar. The price of AUD/USD corrected after the strong growth of the previous days. Currently quotes are around the level of 0.7650 and the nearest resistance level is a local maximum at 0.7730. According to our estimates, after some consolidation, quotes will fall to the nearest target levels at 0.7500 and 0.7450. Our medium-term outlook is also pessimistic.

Nearest resistance levels: 0,7650, 0,7700, 0,7800, 0,8000

Nearest support levels: 0,7500, 0,7450, 0,7320, 0,7250, 0,7120, 0,7000

Currencies trading and New Zealand dollar. The price of NZD/USD shows negative dynamics and in the near future can reach the support at 0.7250. The signal for the opening short position will be fixing of quotations below 0.7200. In this case, the stop must be installed above 0.7400 and target levels will be 0.6820, 0.6600 and 0.6450. We expect a continuation of the current downward price impulse today and maintain the medium-term negative view.

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

Nearest support levels: 0,7250, 0,7130, 0,7050, 0,6940, 0,6820, 0,6720, 0,6575, 0,6450

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.