Futures on the broad U.S. stock index S&P 500 has broken through the lower boundary of the local rising channel and now is consolidating below the level 1850. Closest target in case of reduction is the level of 1840. After securing below 1840, we recommend to open short positions with the target at 1820. We are reviewing medium-term positive outlook for futures and expect that the price in the near future will continue to move within the local downward channel.
Nearest support levels: 1840, 1820
Nearest resistance levels: 1850, 1858, 1880, 1900
The price of euro failed to overcome the upper limit of the upward channel and consolidate above 1.3950, afterwards it dropped to a strong resistance level 1.3850, where is now consolidating. For the continuation of reduction the price needs to fix below 1.3850. However, it may fall to 1.3800. An upward price movement is likely to continue to 1.40. Despite this we maintain a long-term negative outlook.
Nearest support levels: 1.3810, 1.3770, 1.3630
Nearest resistance levels: 1.3900, 1.3960, 1.4000
The quotes of GBP/USD returned to a strong support level 1.6600 after yesterday’s significant growth. For further reduction the price needs to consolidate below 1.6600. In this case, the price can reach the level of 1.65 and the lower limit of the upward channel. In case of resumption of growth, the first target will be at 1,6700. 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 has broken through and fixed below the strong level 102.70, after which we saw a sharp decline to 101,50-101,60. At the moment there is a high probability of correction up to the level of 102.00. We expect that the price will resume the upward movement within the channel and keep long-term and medium-term positive outlook for the USD/JPY.
Nearest support levels: 101.50, 100.90, 100.40
Nearest resistance levels: 102.00, 102.70, 103.00, 104.00, 104.70
The price of AUD/USD has reached the psychological level of 0.91, but was not able to overcome it. At the moment, the Australian dollar is trading around the level of 0.90, and in case of consolidation below this level it may fall to 0.8925. To determine further movement, the price should fix outside the side corridor 0,89-0,91. We maintain a long-term negative outlook for the Australian dollar.
Nearest support levels: 0.8925, 0.8900, 0.8830
Nearest resistance levels: 0.9000, 0.9070, 0.9100, 0.9170
The price of NZD/USD has failed to break the level 0.8600 and corrected downwards to 0.8520. In case of further decrease, quotations may reach 0.8500 and 0.8450. We expect continued growth of the New Zealand dollar in the medium term. The first goal in this case is the resistance at the nearest local maximum of 0.8600.
Nearest support levels: 0.8500, 0.8450, 0.8390, 0.8350
Nearest resistance levels: 0.8600
The price of gold continues to consolidate near the upper boundary of the rising channel and the level of 1370 dollars per troy ounce. Considering previous growth, there is a high probability of price correction. The targets in this case will be at 1360 and 1352. We keep medium and long term a positive outlook.
Nearest support levels: 1.360, 1352, 1344, 1330, 1320
Nearest resistance levels: 1380, 1400