24.01.2014 - Technicals

Futures on the broad U.S. stock index S&P 500 declined to the lower limit of the corridor 1825-1844. We expect that the price will continue to move inside the rising channel. In case of continued downward movement, the price will reach 1810.

The nearest support levels: 1825, 1810

Nearest resistance levels: 1844

After a strong growth on the day before, the price of EUR/USD started to consolidate below 1.37. The correction is possible to the level of 1.3630. Growth of volatility is expected after the speech of ECB President Mario Draghi, at the Davos forum (17:00 GMT).

Nearest support levels: 1.3500, 1.3460

Nearest resistance levels: 1.3630, 1.3710, 1.3810

The price of GBP/USD continued to rise and reached the level 1.6330. In case of correction, the price can fall to 1.66 and 1.6550. In case of fixing above 1.66, we will see the growth continuation.

Nearest resistance levels: 1.6700

Nearest support levels: 1.6600, 1.6550, 1.6460

The weakening of the dollar has led to a significant correction of USD/JPY. After reaching 104.70 the quotes started to decline and broke support at 103.90 and 103.35. Now, the price is heading to the support level at 102.50.

Nearest support levels: 102.50

Nearest resistance levels: 103.35, 103.90

The price of AUD/USD has broken through the lower limit of the downward channel. In case of fixing under the level of 0.8750, the next target will be 0.8600. We maintain a long-term negative outlook.

Nearest support levels: 0.8600

Nearest resistance levels: 0.8750, 0.8900, 0.8950

After reaching a strong resistance level 1265 per troy ounce, which coincided with the upper boundary of the local rising channel, the price started to correct. The closest target in case of reduction is at 1242 dollars per troy ounce. We expect that the price will continue to move within the channel.

Nearest support levels: 1242, 1230, 1220

Nearest resistance levels: 1265

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.