24.02.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 has failed to gain a foothold above the level of 1840 and began to correct downwards. In case of further decrease, the price can reach the level of 1820 and fixation below this mark will be the signal to sell with target price near 1780-1760. We recommend opening long positions after fixing of price above historical highs around 1850.
Nearest support levels: 1820, 1810, 1800
Nearest resistance levels: 1840, 1850
The price of EUR/USD continues to move within the local rising channel and is now trading near its lower limit. Currently, there is a high probability of growth within the channel. The first goal in this case will be the local maximum at 1.3770, after which the price can reach 1.3810. In case of exit from the channel down - a signal for opening short position shorts with a target price of 1.3500, will be fixation below 1.3700 level.
Nearest support levels: 1.3700, 1.3680, 1.3630
Nearest resistance levels: 1.3770, 1.3810
The price of GBP/USD continues to correct inside the rising channel and moves in a narrow corridor. In the short term, growth is possible to 1,6700. Fall is limited by the boundaries of the upward channel. Lack of macrostatistics will lead to low volatility and today’s movement is likely to continue within a narrow channel.
Nearest support levels: 1.6600, 1.6550, 16460
Nearest resistance levels: 1.6700, 1.6820
On the chart USD/JPY was formed the figure - "triangle". In case of price fixation beyond the figure, we expect a strong movement. Signal for the sale will be price fixation below 101.50. In such case the target level will be at 100.00. We recommend to open long positions after the price fixation above 102.70. The target levels will be at 104.70 and 105.40. In the long term, we maintain our positive outlook for USD/JPY.
Nearest support levels: 101.50, 100.90
Nearest resistance levels: 102.70, 103.00, 103.50
The price of AUD/USD is gradually reducing within the corridor 0,8925-0,9070. Further decline is limited by the support at 0.8925. In case of fixing below this level, we recommend to open short positions with target prices at 0.8830 and 0.8750. Growth at the moment is unlikely. We maintain long-term and medium-term negative outlook for the Australian dollar.
Nearest support levels: 0.8925, 0.8900, 0.8830, 0.8450
Nearest resistance levels: 0.9070, 0.9160
The price of NZD/USD continues to fall within the local downward channel and is now trading near the upper boundary of the channel. We expect a drop in prices with the first goal near support at 0.8210. In case of resumption of growth, the long positions should be opened only after fixing above 0.8310. We expect the decrease in quotations of the New Zealand dollar in the long and medium term.
Nearest support levels: 0.8250, 0.8210, 0.8060
Nearest resistance levels: 0.8310, 0.8390
The price of gold has resumed growth after the correction to the level of 1310 dollars per troy ounce. Growth is limited by the level of 1330, but in case of fixing above it, we recommend to open long positions with target price at 1360 dollars per troy ounce. The correction is possible to the level of 1310. We keep our positive long-term and medium-term forecast for the gold prices.
Nearest support levels: 1310, 1290
Nearest resistance levels: 1330, 1360