24.08.2016 - Technical view
Currencies trading and euro. The price of EUR/USD could not overcome the local maximum around the level of 1.1360 and started to decline within which has broken through the inclined support line. In case of continued negative dynamics and overcoming the local minimum at 1.1270, will be completed the formation of a double top, that will become a signal about the change of the local positive trend to negative. Our medium-term outlook remains pessimistic and we expect a price reduction in the near future.
Nearest resistance levels: 1,1400, 1,1500, 1,1620, 1,1750
Nearest support levels: 1,1200, 1,1050, 1,0985, 1,0850, 1,0800, 1,0700, 1,0550, 1,0500
Currencies trading and British pound. The price of GBP/USD has stabilized after recent gains and approached the resistance level at 1.3225 and the upper boundary of the downward channel. Continued growth and price fixing above this level will become a signal to buy with targets at 1.3500 and 1.3600. According to our forecasts, the fall of prices will resume in the near future and our medium-term outlook also remains negative.
Nearest resistance levels: 1,3225, 1,3350, 1,3500, 1.3600, 1.3840, 1.4040, 1.4500, 1.4670
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 has shown a slight increase today. It is worth mentioning that earlier quotes have left the descending channel and fixing of price above the level of 100.85 will become a signal to buy with targets at 103.50, 105.00 and 106.40. The fall in the near future is limited by the levels of support at 100.00 and 99.00. Our medium-term outlook remains positive and the possibility of increase in the near future has grown considerably.
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 resumed the downward movement of price after the correction within the channel and achievement an important level of 0.7650. Fixation lower than this level is a strong signal to sell with a stop above 0.7700 and targets at 0.7400 and 0.7250. The correction is limited by the channel boundaries and we expect a decline in prices in the medium term and in the near future.
Nearest resistance levels: 0,7650, 0,7700, 0,7800, 0,8000
Nearest support levels: 0,7575, 0,7500, 0,7400, 0,7320, 0,7250, 0,7120, 0,7000
Currencies trading and New Zealand dollar. The price of NZD/USD was not able to gain a foothold above the level of 0.7320, and decreased within the triangle. The signal for opening positions will be the price fixing beyond its borders. Confirmation of the sell signal will be overcoming the important level of 0.7200. After a long consolidation, we expect to see strong price movement. Our medium-term view remains negative and we with a high probability expect fall of price in the near future.
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