12.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 has fallen to the bottom of rising channel. With further price fall the quotes may reach the level of support that is located at 1858. At the moment there is a big possibility of renewed growth within the channel. We expect that the price will continue an upward movement to 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 declined within the channel and now is consolidating around 1.3850. At the further reduction, the closest target will be the level 1.3810. We anticipate falling of the price to the bottom of the channel. Growth is limited by the resistance at 1.39. We maintain a medium-term and long-term negative outlook.
Nearest support levels: 1.3810, 1.3770, 1.3630
Nearest resistance levels: 1.3900
The price of GBP/USD has broken through the strong level of 1.6640. If the price is below this level the reduction is possible to the bottom of the rising channel and the level of 1.6500. Confirmation of signal to open a short position will be fixing of price below 1.66. We maintain a long-term positive outlook for the British pound.
Nearest support levels: 1.6600, 1.6500
Nearest resistance levels: 1.6770, 1.6820
The price of USD/JPY during the correction has almost reached the level of support 102.70 and now is consolidating around 103.00. We anticipate renewed growth with the first target at 103.40, after which the price may reach 104.00 and 104.70. The fall below 102.70 is unlikely. 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 continued to decline and reached a level of 0.8950 near which now is consolidating. The correction is possible to 0.90, after which we expect the continuation of decrease. Tomorrow we expect the increased volatility due to the release of data on the labor market in Australia (00:30 GMT). We keep medium and long term negative outlook for the Australian dollar.
Nearest support levels: 0.8925, 0.8830
Nearest resistance levels: 0.9000, 0.9070, 0.9170
The price of NZD/USD has broken through the sloping support line and is consolidating around 0.8450. In case of further decline, a signal to sell will be price fixing below 0.8450. First goal in case of decline will be at the level of 0.8390. Growth is limited by the level of local maximum 0.8520. 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, 0.8520
The price of gold has overcome a strong resistance level 1352 and 1360 and now is consolidating below it. Further growth is limited by the upper limit of the ascending channel. We recommend holding long positions. In case of correction the price may fall to 1352 and 1344 dollars per troy ounce. We keep medium and long term positive outlook.
Nearest support levels: 1352, 1344, 1330, 1320, 1310, 1290
Nearest resistance levels: 1360, 1370