07.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 continues to consolidate below the level of 1880. We expect an increase in volatility after the release of data on unemployment in the U.S. (13:30 GMT). Correction is possible within the local rising channel. In such case, the price can fall to 1858. After receiving the signal it will be possible to determine the further price movement in the short term. 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 has broken through the strong resistance level at 1.3810 and reached 1.3860. At the moment the price is consolidating around this level and probably will be corrected and then may continue to grow within the uptrend. Reduction is possible to the level of 1.3810. We maintain a long-term negative outlook.
Nearest support levels: 1.3810, 1.3700, 1.3630, 1.3560
Nearest resistance levels: 1.3900
The price of GBP/USD continues a gradual increase inside the rising channel. To determine the direction of price in the near future will be required a new signal. In case of reduction the price may fall to 1.66 with possibility of further decline to the bottom of the rising channel. We expect an increase in volatility after the release of data on the labor market in the U.S. (13:30 GMT). Growth is limited by the upper boundary of rising channel. 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 has overcome the strong resistance level 102.70. After correction, we expect the growth to resume up to resistance levels that are located at 104.00 and 104.70. Within correction the price can fall to 102,50-102,70. We maintain long-term and medium-term positive outlook for the USD/JPY.
Nearest support levels: 102.70, 102.00
Nearest resistance levels: 104.00, 104.70
The price of AUD/USD has broken through the upper boundary of the descending channel and has overcome the strong resistance level 0.9070. We recommend to open long positions after the price will fix above 0.9070. First goal at this level is 0.9170. In case of correction the price may fall to 0.9050. Despite the current upward dynamics, we keep a long-term negative outlook.
Nearest support levels: 0.9070, 0.9050, 0.9000
Nearest resistance levels: 0.9170
The price of NZD/USD continued to grow within the local rising channel and has overcome the nearest local maximum level of 0.8430. At this point, we expect the correction within the local rising channel to 0.8390. In the medium term the price growth is likely to continue. We maintain a long-term negative outlook for the NZD/USD.
Nearest support levels: 0.8430, 0.8390, 0.8350
Nearest resistance levels: 0.8500
The price of gold has reached a strong level of $ 1,350 per troy ounce and is consolidating around this level. For continued growth the price needs to fix above 1350. We keep medium and long term positive outlook with the first goal in the area of 1360 per troy ounce.
Nearest support levels: 1330, 1310, 1290
Nearest resistance levels: 1360