10.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 corrected within the local rising channel. At the moment, the futures price are consolidating above 1870, in case of reduction below this level, the price is likely to reach the bottom of the channel and the level of 1858. With the resumption of growth, the price will continue to move within the channel. 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 broke through strong resistance level at 1.3810 and fixed above 1.3860. Currently the quotes are moving along the upper border of the local rising channel and will likely reach 1.39. At the same time, we expect the correction within the channel. A signal to sell will be fixation below 1,3850. The target in case of reduction will be 1.3750. We maintain a long-term negative outlook.
Nearest support levels: 1.3860, 1.3810, 1.3700, 1.3630
Nearest resistance levels: 1.3900
The price of GBP/USD continues a gradual increase inside the rising channel and now is consolidating above 1.67. Growth is limited by the upper boundary of rising channel. A signal to sell will be fixation below 1,6640. We maintain long-term and medium-term positive outlook for the British pound.
Nearest support levels: 1.6700, 1.6600, 1.6640, 1.6600,
Nearest resistance levels: 1.6820
The price of USD/JPY after a strong growth decreased again to the level of 103.00. In case of consolidation below this level, the price may fall to 102.70, but more likely is the resumption of growth with targets at 104.00 and 104.70. We recommend to open long positions on USD/JPY. We maintain long-term and medium-term positive outlook for the USD/JPY.
Nearest support levels: 103.00, 102.70, 102.00
Nearest resistance levels: 104.00, 104.70
The price of AUD/USD has failed to gain a foothold above 0.91 and returned to the corridor 0,8925-0,9070. Correction is possible to the level of 0.9070, but we expect further price reduction with targets at 0.9000, 0.8950 and 0.8925. We keep medium and long term negative outlook for the Australian dollar.
Nearest support levels: 0.9050, 0.9000, 0.8925
Nearest resistance levels: 0.9070, 0.9170
The price of NZD/USD corrected to the lower boundary of the local rising channel and is consolidating around 0.8450 level. In case of reduction below this level of support the price will reach 0.8390. At the moment there is a high probability of rebound from the bottom of the local rising channel. Growth is limited by the upper boundary of rising channel. 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 horizontal support level 1330 per troy ounce, as well as the lower limit of the upward channel. We expect the resumption of growth and recommend to open long positions with the targets at 1350 and 1360 dollars per troy ounce. We keep medium and long term positive outlook.
Nearest support levels: 1330, 1320, 1310, 1290
Nearest resistance levels: 1350, 1360