27.02.2015 - Technical view

The price of EUR/USD after a long consolidation showed a sharp drop to the bottom of the local descending channel. At the moment, there is a high probability of price correction to the level of 1.1280. We expect continued downward movement of prices in the descending channel and recommend holding short positions with a stop above 1.1500 and the objectives at 1.1100 and 1.1000.

Nearest resistance levels: 1.1280, 1.1450, 1.1500, 1.1620, 1.1750, 1.1800, 1.1860, 1.2000

Nearest support levels: 1.1100, 1.1000, 1.0800, 1.0500

The price of GBP/USD after reaching the level of 1.5550 started to fall sharply and corrected to the level of 1.5400. In case of further fall, quotes, will reach a strong support level at 1.5350. In case of breaking this level, we recommend to fix long positions and to open short term short positions with the potential fall to 1.5200 and 1.5000. According to our estimates the growth of quotations will continue in the near future.

Nearest resistance levels: 1.5500, 1.5550, 1.5750, 1.5800

Nearest support levels: 1.5350, 1.5300, 1.5200, 1.5050, 1.5000

The price of USD/JPY showed a strong growth, but could not overcome the resistance level at 119.50. At the moment there is a high probability of price reduction to the level of 118.50, fixation below which will be a signal to open short positions with the potential fall to 117.00 and 116.00. We maintain our positive medium-term outlook and expect continued growth of quotations, after fixing the price above the level of 119.50.

Nearest resistance levels: 119.50, 120.00, 120.50, 122.00, 125.00

Nearest support levels: 118.50, 117.40, 116.00, 115.00, 114.00, 113.00

Japanese Yen in January 2015

The price of AUD/USD corrected to the bottom of the channel and rebounded of it. At the moment, the price is correcting upwards and soon will reach the level of 0.7840. In case of continued downward movement, the basis for further fall of the price will be fixation below the important level at 0.7740. According to our estimates the price of the Australian dollar will fall in the medium term.

Nearest resistance levels: 0.7840, 0.8000, 0.8040, 0.8200, 0.8250, 0.8360

Nearest support levels: 0.7740, 0.7660, 0.7600, 0.7500

The price of NZD/USD started to correct after failed to gain a foothold above the level of 0.7600. At the moment, the quotes are consolidated near the level of 0.7550 and in the near future are more likely to continue the upward movement with the first target near a local maximum around 0.7600. Fall is limited by the lower boundary of the rising channel and the level of support at 0.7440. We forecast the growth of price in the near future.

Nearest resistance levels: 0.7570, 0.7620, 0.7700, 0.7800, 0.7850

Nearest support levels: 0.7500, 0.7440, 0.7340, 0.7200, 0.7000

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