11.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 is consolidating within the local rising channel, below the strong level 1880. At decrease the price can reach the bottom of the channel. We expect that the price will continue the upward movement within the channel and will reach 1900. We maintain a positive medium-term outlook for the U.S. market.
Nearest support levels: 1858, 1850.1840, 1820
Nearest resistance levels: 1880, 1900
The price of euro has reached the level 1.39, but could not overcome it. At the moment the price is consolidating near the upper limit of the upward channel and we expect correction in the near future. The targets in such case will be at 1.3810, 1.3770 and lower boundary of the rising channel. For continued growth the price will need to gain a foothold above 1.39. We maintain a long-term negative outlook.
Nearest support levels: 1.3860, 1.3810, 1.3770, 1.3630
Nearest resistance levels: 1.3900
The price of GBP/USD fell sharply to strong support at 1.6640. We expect growth of price from this level to 1.68. In case of continuation of decline, the signal to sell will be fixation lower than 1.66. In such case, the target will be the lower boundary of rising channel and the level of 1.65. We maintain long-term and medium-term positive outlook for the British pound.
Nearest support levels: 1.6640, 1.6600, 1.6500
Nearest resistance levels: 1.6770, 1.6820
The price of USD/JPY rebounded upwards after a sharp decline from the strong level 103.00. We expect continued growth with price targets at 104.00 and 104.70. In case of decrease the price may fall to the level of 102.70. 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 failed to gain a foothold above 0.91 and returned to the corridor 0,8925-0,9070. Currently decline has slowed and correction is possible to 0.9050 and 0.9070. In the near future, the quotes are more likely to decline further to 0.8950 and 0.8900 levels. We keep medium and long term negative outlook for the Australian dollar.
Nearest support levels: 0.9000, 0.8925
Nearest resistance levels: 0.9070, 0.9170
The price of NZD/USD failed to drop below 0.8450 and continues to move along the bottom line of the local rising channel. We expect continued growth in the short term with the closest target at 0.8500. Further growth is limited by the upper boundary of rising channel. In the case of reduction, a signal to sell will be price fixing below 0.8450. We maintain a long-term negative outlook for the NZD/USD.
Nearest support levels: 0.8450, 0.8390, 0.8350
Nearest resistance levels: 0.8500
The price of gold rebounded from the bottom of rising channel and the strong level $ 1,330 per troy ounce. We expect continued growth and recommend to open long positions with the targets of 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