31.07.2015 - ​Technical view

Currencies trading and euro. The price of EUR/USD dropped to 1.0900 and rebounded from this mark. It is worth noting that earlier the price broke the lower boundary of the local rising channel and has broken the support level at 1.1000, which was the basis for the continuation of the downward price movement. For further fall, the price must overcome the support at 1.0900. The price increase is limited by the resistance levels at 1.1000 and 1.1080. Our medium-term outlook remains negative and we recommend holding short positions. With targets at 1.0700 and 1.0550.

Nearest resistance levels: 1.1000, 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD after failing to continue growing after reaching the resistance at 1.5650, started to correct downwards and broke through the lower boundary of the local rising channel and may continue to decrease to the sloping line of support and levels of 1.5460 and 1.5350. For the continuation of growth, quotations need to consolidate above 1.5650. We maintain the medium-term outlook for the pound and look forward to signals to open new positions.

Nearest resistance levels: 1.5650, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY has grown to the important level of 124.25 and reached the mark of 124.50, but was unable to consolidate above these levels. For the continuation of growth with the closest objectives at 125.00 and 125.70, quotations must overcome these marks. Currently quotes are adjusted downwards and may be reduced to the lower boundary of the rising channel. In case of reduction, signals for the opening short position will be fixation below the support at 123.00. Our medium-term outlook remains positive.

Nearest resistance levels: 124.25, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD corrected upwards in the descending channel. The growth of price in the near future is limited by the level of resistance at 0.7350. On the other hand for a further decline, quotations must overcome the local minimum near 0.7250. We still maintain a medium-term negative outlook and recommend holding short positions on the Australian dollar.

Nearest resistance levels: 0.7350, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000

Nearest support levels: 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD after an unsuccessful attempt of fixing the price above the level of 0.6700, started to correct downwards and broke through the lower boundary of the rising channel and the local support level at 0.6600. In this regard, we expect a continuation of the downward dynamics and reaching the closest target at 0.6500, after which a downward movement is likely to continue to 0.6200 and 0.6000. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 0.6700.

Nearest resistance levels: 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260

Nearest support levels: 0.6600, 0.6500, 0.6360, 0.6200, 0.6000

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.