872

Key option levels: May 2-8

Grigory Zverev

EUR/USD

o the closest resistance levels: 1.1472; 1.1560; 1.1637; 1.1706

o the closest support levels: 1.1305; 1.1240; 1.1164/25; 1.1053

o the range of upside risks: 1.1472-1.1871

o the range of downside risks: 1.1305-1.0880

Considering EUR/USD, the bulls has managed to turn the tide in their favor. However for growth continuation they need to overcome the number of strong resistances. Medium-term risks belong to bears so far. 1.1472 level excess will predetermine the new wave of growth to the 1.1560 and 1.1637 levels. The currency pair selling should be considered lower than 1.1305 level, with the target points at 1.1240 and 1.1164.


GBP/USD

o the closest resistance levels: 1.4699; 1.4792; 1.4830; 1.4928; 1.5045

o the closest support levels: 1.4452; 1.4321; 1.4237; 1.4174

o the range of upside risks: 1.4699-1.5130

o the range of downside risks: 1.4452-1.3969

GBP/USD has turned out to be under control of buyers again. 1.4699 level breakout will create a background for the currency pair growth this week. 1.4792 and 1.4830 levels can be used as the buy signals. There is also an alternative scenario – 1.4452 level downside breakout will open a way to 1.4321 and 1.4237.


USD/JPY

o the closest resistance levels: 106.63; 107.02; 107.94; 108.68

o the closest support levels: 105.94; 105.25; 104.24;

o the range of upside risks: 108.68-113.97

o the range of downside risks: 107.94-95.24

USD/JPY has got under the bear pressure. The main objective of the marketmakers is still located on 105.00 level. However 100.00 and 95.00 strikes development suggests the possibility of a deeper decrease. The decrease lower than 105.94 level can be considered as a signal for the currecny pair sale, with the target points at 105.25 and 104.24. Interests of buyers are located higher than 108.68 level.


USD/CAD

o the closest resistance levels: 1.2637; 1.2757/83; 1.2830; 1.2989/99

o the closest support levels: 1.2503 (?); 1.2444; 1.2355; 1.2261

o the range of upside risks: 1.2503-1.2261

o the range of downside risks: 1.2637-1.2999

USD/CAD has closed another week in a "red zone". However, Call-range strengthening can encourage the development of the ascending correction. 1.2637 level excess will become a good moment for buying; the objectives are 1.2757 and 1.2830 levels. In case of decrease lower than 1.2503 level it is possible to open short positions with the target points at 1.2444 and 1.2355.


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