05.05.2014 - Technical view

Price of the futures on broad U.S. stock index S&P 500 after a long consolidation around the level of 1884 has started to decline. We expect the downward price correction with the target near the level of support at 1873. In case of further decrease, a signal to sell will be price fixing below 1860. In case of resumption of growth the price may reach historic highs around 1900. We maintain a long-term negative outlook on the futures.

Nearest resistance levels: 1884, 1900

Nearest support levels: 1873, 1860, 1840, 1813

March 26, 2014 USSPX Graph

The price of euro once again has reached the level 1.6880, but could not overcome it. For the continued growth the price needs to gain a foothold above $ 1.3900. In case of correction euro may fall to 1.3790. We maintain a long-term negative outlook for the euro.

Nearest resistance levels: 1.3900, 1.4000

Nearest support levels: 1.3850, 1.3790, 1.3750, 1.3700

The price of the British pound was unable to overcome the level 1.6900, but has fixed above the level of 1.6840. For the continued growth, the price needs to gain a foothold above 1.6900. We expect continued upward movement within the channel and maintain medium and long term positive outlook for the pound.

Nearest resistance levels: 1.6900

Nearest support levels: 1.6840, 1.6770, 1.6700, 1.6600

The price of USD/JPY broke the level of 102.70, but failed to gain a foothold above it and began to decline sharply. Within the fall the price broke the lower boundary of the local rising channel and strong horizontal support level at 102.00. We expect the resumption of growth of prices in the near future and keep medium and long-term positive outlook.

Nearest resistance levels: 102.70, 103.00, 104.00, 104.70

Nearest support levels: 101.90, 101.50, 101.25

The price of the Australian dollar has reached the target level of 0.9200, but bounced up and now is consolidating around the level of 0.9260. In case of resumption of growth, a signal to buy will be price fixing above 0,9300. We expect price reduction with the first target near 0.9200 and save midterm negative outlook for the Australian dollar.

Nearest resistance levels: 0.9300, 0.9390, 0.9450

Nearest support levels: 0.9215, 0.9200, 0.9130

The price of NZD/USD has broken through the strong level of 0.8630 and continued upward movement. With further growth, the price can reach the level of 0.8700. Within the correction the price may fall to 0.8630. We maintain a positive midterm outlook for the New Zealand dollar.

Nearest resistance levels: 0.8700, 0.8740

Nearest support levels: 0.8630, 0.8580, 0.8550, 0.8520, 0.8450

The price of gold rebounded from a strong support level at 1278, has broken through the the upper boundary of the "triangle" and now is consolidating around the level of the nearest local maximum at 1305. Confirmation of a buy signal will be price fixing above the level of 1305. In such case the targets will be at the levels of 1330, 1350, 1380. We expect continued growth and keep medium and long term positive outlook.

Nearest resistance levels: 1315, 1330, 1350, 1380

Nearest support levels: 1278, 1265

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