17.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 have reached the level of 1840 and continue to consolidate in this area. Price of the futures decreases along the bottom of the local downstream channel, but can accelerate the decline and reach a strong level of 1820. Correction is limited by the upper boundary of the channel. We expect increased volatility and a further drop in prices in the medium term.
Nearest support levels: 1830, 1820
Nearest resistance levels: 1850, 1858, 1880, 1900
The price of euro rebounded from the strong level 1.3850 and again reached the level of 1.39, near which it is now consolidating. After fixing above 1.39, the growth of price is likely to continue up to 1.40. In the case of fall, a signal to sell will be price fixing below 1.3850 and lower limit of the upward channel. Despite this we maintain a long-term negative outlook.
Nearest support levels: 1.3850, 1.3810, 1.3770, 1.3630
Nearest resistance levels: 1.3960, 1.4000
The price of GBP/USD continues to consolidate above the strong support at 1.6600. 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 continued to decline and broke the lower boundary of the rising channel, but failed to gain a foothold beyond it. 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. First goal in such case will be at the level 102.00. With a further fall the price may reach levels of 100.90 and 100.40.
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 rebounded from the support at 0.90 and reached 0.9050. With further growth, the price may reach 0.9070 and 0.9100. We expect to resume fall with targets at levels 0.9000 and 0.8925. We maintain a long-term negative outlook for the Australian dollar.
Nearest support levels: 0.9000, 0.8925, 0.8900, 0.8830
Nearest resistance levels: 0.9070, 0.9100, 0.9170
The price volatility of the New Zealand dollar declined greatly. The quotes are consolidating around 0.8550 and continue to move within the rising channel. While reducing the price can reach support at 0.8450. Growth is limited by the level of local maximum at 0.8600. We maintain a positive medium-term outlook for the New Zealand dollar.
Nearest support levels: 0.8500, 0.8450, 0.8390, 0.8350
Nearest resistance levels: 0.8600
The price of gold has fixed above the upper limit of the upward channel and reached a level of $ 1380 per troy ounce. In case of further growth, the price will probably reach the psychological mark of 1,400. In case of correction, the price can drop to 1370. We keep medium and long term positive outlook.
Nearest support levels: 1.370, 1.360, 1352, 1344, 1330, 1320
Nearest resistance levels: 1400