24.03.2014 - Technical view

Futures on the broad U.S. stock index S&P 500 was not able to overcome the level of 1880, but continues to move inside the rising channel. Further growth is limited by historical maximum around 1890. The signal to buy will be price fixing above this level. In case of reduction, a signal to sell will be price fixing below 1840. Potential for further growth is small and we maintain a long-term negative outlook on the U.S. market.

Nearest support levels: 1858, 1850, 1840, 1830, 1820

Nearest resistance levels: 1880, 1900

The price of euro continues to move under the lower boundary of the rising channel and now is consolidating around 1.3800. With the resumption of the downward movement, the price can reach levels of 1.3750, 1.3700 and 1.3640. Growth is limited by a strong resistance level at 1.3850. We keep the medium and long term negative outlook for the euro.

Nearest support levels: 1.3750, 1.3700, 1.3630, 1.3650

Nearest resistance levels: 1.3810, 1.3850, 1.3900, 1.3960

Despite our expectations the price of GBP/USD continued to fall within the local downward channel and fell below 1.6500. In case of further decrease the price can reach 1.6400. Despite this, we maintain a long-term positive outlook for the British pound, but revise our medium-term outlook.

Nearest support levels: 1.6400, 1.6300

Nearest resistance levels: 1.6500, 1.6600, 1.6650, 1.6770, 1.6820

The price of USD/JPY continues to consolidate in a narrow range below 102.50. For the continued growth, the price needs to gain a foothold above 102.70. At the same time the objectives will be the levels 103.50 and 104.00. Decrease inside the rising channel is possible to level 101.90. We keep medium and long term positive outlook.

Nearest support levels: 101.90, 101.25, 100.90, 100.40

Nearest resistance levels: 102.70, 103.50, 104.00, 104.70

The price of AUD/USD is moving within the range of 0,9050-0,9100. Growth is limited by a local maximum at 0.9130. We expect the resumption of the downward movement. A signal to sell will be price fixing below 0,9000. 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: 0.9100, 0.9130, 0.9170

The price of the New Zealand dollar continues to consolidate around the level of 0.8540. In case of further decrease, a signal to sell will be price fixing below 0.8500. The target prices in this case will be at 0.8450 and 0.8400. In order to determine the future direction - the new signals are needed.

Nearest support levels: 0.8500, 0.8450, 0.8390, 0.8350

Nearest resistance levels: 0.8600, 0.8700

The price of gold has stopped falling and is consolidating above the inclined support line within the corridor 1330-1340. In case of further decline, a signal to sell will be fixing price below the level of 1320. We expect the resumption of growth. The signal to buy will be price fixing above 1340. We keep medium and long term positive outlook.

Nearest support levels: 1320

Nearest resistance levels: 1344, 1352, 1,370, 1380, 1400

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.