EURUSD

The price is still fluctuating within the price range after EUR rushing growth last week. Currently, in addition to the support and resistance inclined lines, it is worth pointing out the horizontal support at 1.34; in case if it is broken we are very likely to face correction to the mark of 1.3050-1.3100. The key resistance level is 1.3730, when the price rises to it, bear divergence will be formed in the MACD histogram, therefore selling in he range of 1.37 looks quite reasonable. The resistance breakthrough will open the way towards 1.40.

GBPUSD

The ascending impulse faces increasingly strong resistance of those traders who play for the price lowering. This is proved by overselling and divergence in oscillators, in particular, in the MACD histogram. The area of 1.44 still looks quite strong, the next resistance is located at 1.43. The price growth higher than 1.47 cannon be excluded, however, it will be accompanied with the next divergence in MACD, that is why it is possible to try selling from 1.4750-1.4800 till the week-end. Before the week-end it is better to close all sells and wait for the situation development next week.  

EURJPY

JPY growth is still encouraged with a good dynamics of leading stock indexes. Nevertheless, in the four-hour price graph a model like Head and Shoulders is being formed. The closing signal will be a confident breakthrough of the support at 130.80 as the neck. It is required to note that when the price moves upwards to resistance 134.20-134.50, divergence at MACD will be formed, which is not a very nice signal for bulls. Therefore it is worth considering the closing of the buying positions opened earlier before the week-end. Above 142.00 it is possible to try to sell aggressively, but to leave the market before the week-end, since selling against the ascending trend in the day scale does not look attractive. The week closing price above or lower than 130.00 will be a good barometer for defining bull or bear sentiments at the end of the current week.

Have a nice day!

Alex Sabodin.                                                                                      

Pro Finance Group Inc.