06.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 continues to consolidate around the level of 1875. Increase in volatility is expected tomorrow after the release of data on unemployment in the United States. Correction is possible within the local rising channel. In such case, the price may be reduced to 1850. It will be possible to determine the price movement in the short and medium term after receiving the signal. We maintain a positive medium-term outlook for the U.S. market.
Nearest support levels: 1858, 1850.1840, 1820
Nearest resistance levels: 1880
The price of euro continues to consolidate near the level of 1.3740. Growth is limited by the sloping resistance line. Increased volatility is expected after the speech of the ECB President Mario Draghi (13:30 GMT). A signal to sell will be fixing the price below 1.37. The targets in such case will be 1.3650, 1.3630 and 1.3560. We maintain long term negative outlook for EUR/USD.
Nearest support levels: 1.3700, 1.3630, 1.3560
Nearest resistance levels: 1.3770, 1.3810
The price of GBP/USD continues a gradual increase inside the rising channel. A new signal will be required in order to determine the direction of prices in the near future. In case of reduction the price may fall to 1.66 and then to the bottom of rising channel. We expect an increase in volatility after the statement of the Bank of England (12:00 GMT). We maintain long-term and medium-term positive outlook for the British pound.
Nearest support levels: 1.6600, 1.6640, 1.6600,
Nearest resistance levels: 1.6700, 1.6820
The price of USD/JPY after a long growth has reached a strong resistance level 102.70. It will be rather difficult to overcome and gain a foothold above this level. We expect the correction to the first target level of 102.30. In case of fixation above 102.70, the price will probably reach levels of 104.00 and 104.70. We maintain a long term positive outlook for the USD/JPY.
Nearest support levels: 102.00, 101.50, 100.90, 100.00
Nearest resistance levels: 102.70, 103.00
The price of AUD/USD has broken through the upper limit of the downward channel and has overcome a strong resistance level of 0.90. Further growth is limited by the resistance at 0.9070. In case of reduction the price can reach the level of 0.89. Further price movement of AUD/USD will depend on the dynamics of the U.S. dollar. We maintain a long term negative outlook.
Nearest support levels: 0.8900, 0.8830
Nearest resistance levels: 0.9070, 0.9160
The price of NZD/USD continued its gradual growth within the local rising channel and reached the nearest local maximum of 0.8425. For continued growth, the price should be fixed above this level. At the moment we expect the correction within the local rising channel to 0.8390. We maintain a long term negative outlook for the NZD/USD.
Nearest support levels: 0.8390, 0.8350, 0.8290, 0.8210
Nearest resistance levels: 0.8430
The price of gold has reached a strong support level of $ 1,330 per troy ounce and continues to consolidate above it. After consolidation, we expect continued growth. We keep medium and long term positive outlook with the first target in the area of 1360 per troy ounce.
Nearest support levels: 1330, 1310, 1290
Nearest resistance levels: 1344, 1360