30.07.2014 - Technical view

The price of EUR/USD is approaching to the target level of 1.3400 while moving in a downtrend. Today we expect a strong increase in volatility. In case of upward correction, the price can reach the levels of 1.3440 and 1.3500. To continue the current negative trends, quotes should fix below 1.3400. Medium-term outlook remains negative with the objectives of 1.3200 and 1.2800.

Nearest resistance levels: 1.3440, 1.3500, 1.3530, 1.3590, 1.3665, 1.3700

Nearest support levels: 1.3400, 1.3200, 1.3160, 1.3000, 1.2800

The price of GBP/USD continued to decline within the local descending channel after it was not able to resume an upward movement and break through the resistance at 1.7000. In the near future the price will probably reach the level of 1.6900, after breaking of which may continue to fall with the objectives of 1.6810 and 1.6770. Despite a likely decline in the short term, we maintain a positive outlook for the medium-term.

Nearest resistance levels: 1.7000, 1.7050, 1.7100, 1.7180, 1.7200, 1.7300

Nearest support levels: 1.6900, 1.6810, 1.6770

The price of USD/JPY as expected, continued to grow and almost reached the first target level of 102.20, after overcoming of which an upward trend may continue with the aim of about 102.70. Fall is limited by the lower boundary of the rising channel and support level around 101.90. We recommend holding long positions and maintain the medium-term positive outlook.

Nearest resistance levels: 102.20, 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.90, 101.15, 100.90, 100.00

The price of AUD/USD after a minor correction, continued to decline and now is moving along the top border the local correction channel. The most probable is the continuation of a downward trend with the target near the border of the corridor 0,9330-0,9440. We expect a continued fall in the medium term with the objectives of 0.9200 and 0.8900.

Nearest resistance levels: 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9330, 0.9300, 0.9220, 0.9200

The price of NZD/USD rebounded from the bottom of the descending channel, but the probability of changing the negative trend is extremely low. As part of further movement, we probably will see continued decline with the first goal about 0.8480. Growth is limited by the upper boundary of the channel, and resistance at 0.8560. We expect a continuation of the current price movement in the near future, and then we will need additional signals to determine further action.

Nearest resistance levels: 0.8560, 0.8600, 0.8660, 0.8720, 0.8780, 0.8800, 0.8850

Nearest support levels: 0.8480, 0.8400

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.