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24.11.2016 - ​Technical view

Currencies trading and euro. The price of EUR/USD has resumed falling and may soon return to the support level at 1.0550 after which following objectives will be 1.0450 and 1.0200. In case of resumption of upward correction, quotes, can return to the levels of 1.0700 and 1.0850. Our medium-term outlook remains negative and we expect the price to drop in the near future and medium term.

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 fall after failed to break an important level of 1.2400. This fact is the basis for the continuation of the negative dynamics of price with the closest targets at 1.2200 and 1.2080. The signal to buy in case of change of the negative dynamics to positive will be breaking through the upper boundary of the descending channel and a local maximum at 1.2500. Our medium-term outlook remains negative and we are waiting for the fall in the near future.

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 after some consolidation near the level of 111.00, continued to grow and at the moment is trying to return to the local ascending channel, which had left earlier. The closest target in case of continued growth will be 112.15 and 114.00. In case of correction, the price will return to the support level at 109.75 and 108.00. Our medium-term outlook remains positive, but we do not exclude the correction after the strong growth of the past few weeks.

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 could not continue its growth within the correction and overcome an important resistance level at 0.7450. As a result, quotations have resumed fall and with a high probability will return to the local minimum at 0.7320 and then will continue falling to 0.7250 and 0.7120. Our medium-term outlook is negative with a decrease potential to 0.7000 and below.

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 has resumed falling after some consolidation around the level of 0.7050 and break of 0.7000 will become a stimulus for the continuation of negative dynamics of price to 0.6820 and 0.6600. On the other hand, we do not exclude the correction of price and in such a case the targets will be 0.7130 and 0.7200. Our medium-term view remains negative and we are waiting for the fall in the near future.

Nearest resistance levels: 0,7050, 0,7130, 0,7200, 0,7320, 0,7400, 0,7500

Nearest support levels: 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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