13.03.2014 - Technocal view
Futures on the broad U.S. stock index S&P 500 could not fix below the lower boundary of the rising channel and resumed an upward movement. For continued growth the price needs to overcome resistance lines at the 1870 and 1880. We expect that the price of futures will reach 1900. In case of price fixing and below 1858, we recommend to open short positions with the target at 1840. 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 continued to rise inside the rising channel and reached a strong level 1.39. For continued growth, the price should be fixed above this level. Growth is limited by the upper boundary of the channel. In case of reduction the targets will be the levels of support at 1.3850 and 1.3810. We maintain a medium-term and long-term negative outlook.
Nearest support levels: 1.3810, 1.3770, 1.3630
Nearest resistance levels: 1.3900, 1.4000
The price of GBP/USD is consolidating between strong levels of 1.6600 and 1.6640. Further progress will depend on the statistics, which will be published tomorrow. We expect that the price will continue to move inside the rising channel. A signal to open the position will be price fixing outside of the channel 1,6600-1,6640. We maintain a long-term positive outlook for the British pound.
Nearest support levels: 1.6600, 1.6500
Nearest resistance levels: 1.6640, 1.6770, 1.6820
The price of USD/JPY declined during the correction to the strong level of 102.70. We expect a rebound from the current level of 103.00 with further increase up to 104.00 and 104.70. Price reduction lower than 102.70 is unlikely, but in case of fixing below this level, the quotes may fall to 102.00. We maintain long-term and medium-term positive outlook for the USD/JPY.
Nearest support levels: 102.70, 102.00
Nearest resistance levels: 103.00, 104.00, 104.70
The price of AUD/USD reached the lower limits 0,8925-0,9070, but failed to break it and resumed the growth. Further upward movement is limited by sloped line and a strong resistance level of 0.9000. In case of fixing above these levels, the price will reach 0.9070. 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 was unable to break through the support level 0.8450 and resumed the growth. After breaking the inclined resistance line the price has overcome a strong level of 0.85, and will probably continue the upward movement inside the rising channel. We expect continued growth of the New Zealand dollar in the medium term.
Nearest support levels: 0.8450, 0.8390, 0.8350
Nearest resistance levels: 0.8600
The price of gold continued its upward movement and reached the upper limit of the upward channel. Correction within the channel is possible to the level of 1360 and 1352 dollars per troy ounce, after which we expect the resumption of growth. We keep medium and long term positive outlook.
Nearest support levels: 1352, 1344, 1330, 1320
Nearest resistance levels: 1370, 1380