23.01.2014 - Technicals

Futures on the broad U.S. stock index S&P 500 continue to move near historical highs. The movement of the index will depend on a number of macroeconomic data, which will be published today. We expect that the price will continue to move inside the rising channel. The next support levels: 1825, 1810

The sharp jump of EUR/USD quotations was due to the growth in index of business activity in the manufacturing sector of Germany to 56.3 while the forecast was 54.7. On this background the price of pair reached the resistance at 1.3630. Additional stimulus will be needed to overcome this level. The next support levels: 1.3500, 1.3460 Nearest resistance levels: 1.3630, 1.3710, 1.3810

The price of GBP/USD has moved beyond the figure of the "triangle" and reached the target level of 1.66, which coincides with a local maximum. We expect the continuation of growth after fixing above 1.66. Nearest resistance levels: 1.6700 Nearest support levels: 1.6550, 1.6460

GBP Technical Outlook

The price of USD/JPY is consolidating in the range 103.90 - 104.70. Because of the lack of statistics in Japan, U.S. statistics will be the main driver during today’s trading session. Special attention should be paid to labor market data (13:30 GMT). In case of fixing the price above resistance 104.70, the quotes will be heading to 105.40. Nearest support levels: 103.90, 103.35 Nearest resistance levels: 104.70, 105.00, 105.40

After upward rebound the price of AUD/USD started to decrease again. We expect that the price will continue to move in the downward channel and keep a long-term negative outlook. Nearest support levels: 0.8760 Nearest resistance levels: 0.8900, 0.8950

The price of gold has broken through the strong resistance level 1242. In case of fixing below this mark the price is likely to decline to 1230 and then to 1220. Growth is limited by strong resistance at 1265. Nearest support levels: 1230, 1220 Nearest resistance levels: 1258, 1265

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