19.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 broke through the upper limit of the local downstream channel and continued growth. Price of the futures reached the mark 1870 and with further growth will continue to move to 1880 and 1890. In case of fall, a signal to open a short position will be the price exiting the rising channel and fixation lower than 1840. Today, we expect increased volatility and decline of prices in the long term.
Nearest support levels: 1858, 1850, 1840, 1830, 1820
Nearest resistance levels: 1880, 1900
The price of euro has fixed above the level of 1.39 and continues to consolidate above it. With a further increase, the price will reach the psychological mark of 1.40. In case of a fall, a signal to sell will be price fixing below the 1.3850 and lower limit of the upward channel. We expect that the price will continue to move inside the rising channel in the medium term, but keep a long-term negative outlook. Today, we expect an increase in volatility after 18:00 GMT.
Nearest support levels: 1.3900, 1.3850, 1.3810, 1.3770, 1.3630
Nearest resistance levels: 1.3960, 1.4000
The price of GBP/USD has broken through the strong level of 1.66, and is trying to gain a foothold above it. In case of further decline, a signal to sell will be price fixing below 1,6580 with the target of the fall in the area of 1.6500. In case of resumption of growth the price is likely to reach levels of 1.6650 and 1.6700. We maintain a long-term positive outlook for the British pound.
Nearest support levels: 1.6500
Nearest resistance levels: 1.6600, 1.6650, 1.6770, 1.6820
The price of USD/JPY continues to consolidate near the lower boundary of the rising channel and above the support level of 101.25. We expect renewed growth and recommend to open long positions. First goal will be a strong level of 102.70 with a further increase to 103.50. With the resumption of the decline, the price can reach 100.90. We keep medium and long term positive outlook.
Nearest support levels: 101.25, 100.90, 100.40
Nearest resistance levels: 102.00, at 102.70, 103.50, 104.00, 104.70
The price of AUD/USD has broken through the resistance level 0.9100, but failed to overcome the 0.9130. With the resumption of growth, a signal to buy will be breaking through 0.9130. We expect the resumption of the fall and recommend to open short positions with a stop above 0.9130 and targets at 0.9000 and 0.8925. We maintain a long-term negative outlook for the Australian dollar.
Nearest support levels: 0.9100, 0.9050, 0.9000, 0.8925, 0.8900, 0.8830
Nearest resistance levels: 0.9130, 0.9170
The price of the New Zealand dollar has broken through the resistance level at 0.8600 and is trying to gain a foothold above it. With the resumption of growth, the price will continue to move inside the rising channel. In this case, it is worth noting that, after long-term growth, there is a great probability of correction. We maintain a positive medium-term outlook for the New Zealand dollar.
Nearest support levels: 0.8600, 0.8550, 0.8500, 0.8450, 0.8390, 0.8350
Nearest resistance levels: 0.8700
The price of gold continued to correct, and has reached the level 1352 above, which is now consolidating. We expect renewed growth in prices and further movement inside the rising channel. At the same time, the strengthening of the dollar could lead to a further reduction in price to the level of 1330. We keep medium and long term positive outlook.
Nearest support levels: 1352, 1344, 1330, 1320
Nearest resistance levels: 1,370, 1380, 1400