06.02.2014 - Technical view

Futures on the broad U.S. stock index S&P 500 continues to trade below the resistance 1760. We do not expect a strong growth of volatility until tomorrow. In case of further decrease the price can reach 1720. Growth is limited by the upper boundary of the descending channel.

Nearest support levels: 1740, 1720

Nearest resistance levels: 1760, 1770, 1810

The quotes of EUR/USD are consolidating above the strong level of 1.35. We expect the growth of volatility after the press conference of the head of the ECB (13:30 GMT). Growth is limited by the upper boundary of the channel, and resistance at 1.3630. In case of reduction within the channel the target price will be at 1.34.

Nearest support levels: 1.3400

Nearest resistance levels: 1.3550, 1.3630, 1.3710

The price of the British pound continues to consolidate near the level 1.6320. In case of decline, the price may drop to 1.6260. Growth is limited by the resistance at 1.64. Today we expect to see the growth of volatility because of the statement of the Bank of England, which will be released at 12:00 GMT.

Nearest support levels: 1.6260, 1.6140

Nearest resistance levels: 1.6400, 1.6460, 1.6550

The price of USD/JPY keeps moving inside the local downstream channel. Growth is limited by a strong resistance level 102.00. Support is at 100.40. Further price movement will be determined tomorrow after the release of statistics on the U.S. labor market.

Nearest support levels: 100.40

Nearest resistance levels: 102.00, 103.00 103.50

The price of AUD/USD has fixed above the strong level 0.89 and continues to grow. After reaching the level of 0.90, we expect the resumption of the downward movement. In case of decline the closest target will be the level of 0.89. We expect that the price will continue to move within the downward channel.

Nearest support levels: 0.8900, 0.8830, 0.8700

Nearest resistance levels: 0.9000, 0.9060

The price of gold is clamped between the bottom of the rising channel and the inclined resistance line. A strong fundamental stimulus is needed for the continued growth and fixation above 1270. The signal for decrease will be the exit from the channel and fastening below 1240 dollars per troy ounce.

Nearest support levels: 1242, 1220

Nearest resistance levels: 1265, 1280, 1290

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