03.04.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 continued to grow after overcoming the historic highs. We expect that the price will increase inside the rising channel and in the medium term will overcome the level of 1900. In case of reaching the level of 1900, we expect the futures price correction due to overbought market. Despite this, we maintain a long-term negative outlook on the futures.
Nearest support levels: 1880, 1858, 1840, 1830, 1820
Nearest resistance levels: 1900, 1950, 2000
The price of euro failed to overcome the resistance at 1.3815 and now is consolidating around the mark of 1.3750. In case of fall, a signal to sell will be price fixing below 1.37. In this case the target levels will be at 1.3640 and 1.3560. Today is expected the increase of volatility in connection with the decision of the ECB on interest rate and press conference, of Mario Draghi. We maintain a long-term negative outlook for the euro.
Nearest support levels: 1.3700, 1.3640, 1.3650
Nearest resistance levels: 1.3850, 1.3900, 1.3960
The price of GBP/USD after stopping the growth continues to consolidate below 1.6650. In case of growth, a signal to buy will be price fixing above 1.6650. A signal to sell will be price fixing below 1,6600. We expect further growth and maintain a long-term positive outlook.
Nearest support levels: 1.6600, 1.6500, 1.6400, 1.6300
Nearest resistance levels: 1.6650, 1.6770, 1.6820
The price of USD/JPY has reached the upper limit of the upward channel and resistance at 104.00. After strong growth, there is a high probability of price correction, after which we expect further upward movement. With further growth, the price will reach 104.70. We keep medium and long term positive outlook for the USD/JPY.
Nearest support levels: 103.50, 102.70, 101.90, 101.25, 100.90, 100.40
Nearest resistance levels: 104.00, 104.70, 105.40
The price of AUD/USD has failed to break the support level at 0.9215 and continues to consolidate above it. In case of further decline, the signal to sell will be price fixing below 0.9215. In this case, will be completed formation of "double top", which is a trend reversal pattern. In this case quotations may fall to the bottom of the rising channel and the level of 0.9130. We expect further correction of the Australian dollar.
Nearest support levels: 0.9215, 0.9130, 0.9100, 0.9000, 0.8925
Nearest resistance levels: 0.9300
The price of NZ dollar continued to decline after the formation of a "double top". We expect continued decline to the strong level 0.8520, after which the growth can resume. After the end of correction, we expect the resumption of growth and keep a medium-term positive outlook.
Nearest support levels: 0.8520, 0.8450, 0.8390, 0.8250
Nearest resistance levels: 0.8650, 0.8700
The fall in prices of gold stopped in the area of 1280 dollars per troy ounce. After a strong decline during the previous weeks, we expect growth to levels 1315-1320. The signals to buy will be price fixing above the psychological level of 1,300. We maintain a long-term positive outlook for gold.
Nearest support levels of 1280, 1275, 1265
Nearest resistance levels: 1300, 1315, 1320, 1330, 1344, 1352