27.10.2014 - Technical view

The price of EUR/USD corrected upwards after it almost reached the level of 1.2600. If the price fixates above 1.2700, we expect a continuation of the upward movement up to 1,2800-1,2825. The growth potential is limited by the psychologically important level of 1.3000. We recommend holding short positions. Confirmation of a sell signal will be fixing the price below 1.2600. Our medium-term outlook remains negative with the objectives of about 1.2500 and 1.2200.

Nearest resistance levels: 1.2700, 1.2825, 1.2925, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240

Nearest support levels: 1.2600, 1.2500, 1.2450, 1.2200

Euro and Dollar Chart

The price of GBP/USD after it could not break through the level of 1.6000, started to correct upwards and currently is consolidating near the level of 1.6100. In case of continued growth, confirmation of a buy signal will be fixing the price above the level of 1.6200. In this case, the stop should be set lower than 1.6000. We maintain a positive outlook for the medium-term, but recommend to wait for confirmation of a buy signal.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.6000, 1.5880, 1.5800, 1.5600

British Pound and US Dollar Chart

The price of USD/JPY has stopped the growth after reaching the upper limit of the local rising channel and currently is consolidating below the strong resistance level of 108.50. We expect continued growth in prices and recommend to open long positions with the closest target near 110.00. In addition, we maintain a positive outlook for the medium-term and there is a low probability of the price falling below the 105.40 in the medium term.

Nearest resistance levels: 108.50, 110.00, 111.00, 115.00, 120.00

Nearest support levels: 107.00, 106.00, 105.40, 104.70, 104.00, 103.70

The price of AUD/USD keeps consolidating near the level of 0.8800. Overcoming this resistance and fixing the price above 0.8925 will be a signal to the fixation of short positions and opening of long ones. This option according to our estimates is unlikely. We recommend holding short positions with the closest targets 0.8660 and 0.8500 and maintain a medium-term negative outlook.

Nearest resistance levels: 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8660, 0.8600, 0.8550, 0.8500

The price of NZD/USD is corrected upwards after it rebounded of the support level 0.7800. Continuation of the current dynamics is limited by the level of 0.7900. Signal for changing the negative trend to positive and the reason for the fixation of short positions will be fixing the price above 0.8000. At the moment, we maintain a medium-term negative outlook and recommend holding short positions with the target near 0.7500.

Nearest resistance levels: 0.7900, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7800, 0.7740, 0.7700, 0.7500

NZD Forcast

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