24.04.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 has fixed above the level 1873 and is consolidating in the corridor 1873-1884. Further growth is limited by historical highs in the area of 1900. To continue the growth, the price of futures will need to gain a foothold above this mark. In case of decline the quotations may fall to 1840. We expect the resumption of the downward movement in the medium term and keep long-term negative outlook on the U.S. market.
Nearest support levels: 1873, 1840, 1813, 1800, 1780
Nearest resistance levels: 1900, 1950
The price of euro continues to consolidate in the corridor 1,3790-1,3850. An attempt to break the upper limit of the corridor was unsuccessful and the price corrected downwards. In case of reduction, a signal to sell will be price fixing under the lower boundary of the corridor. The objectives in such case will be at 1.3750 and 1.3700. The growth is limited by a strong resistance level at 1.3900. We expect continued downward movement and keep a long-term negative outlook.
Nearest support levels: 1.3790, 1.3750, 1.3700, 1.3640, 1.3560
Nearest resistance levels: 1.3850, 1.3900, 1.3960
The price of GBP/USD continues to consolidate in the corridor 1,6770-1,6840. At the further growth, a signal to buy will be the price fixing above 1,6840. We recommend to open short positions after fixing the price below 1.6770. In this case, the pound may reach the lower boundary of the channel and the level of 1.6700. We maintain a long-term positive outlook for the pound.
Nearest support levels: 1.6770, 1.6700, 1.6650, 1.6600
Nearest resistance levels: 1.6840, 1.6900, 1.7000
The price of USD/JPY has slightly corrected and now consolidating around the level of 102.35. In addition, the prices reached the lower boundary of the local rising channel. In case of continued growth, a signal to buy will be price fixing above 102.70. The target levels will be 104.00 and 104.70. In case of further decrease the price can reach 102.00. We keep medium and long term positive outlook for the USD/JPY.
Nearest support levels: 102.00, 101.25, 100.90, 100.40
Nearest resistance levels: 102.70, 104.00, 104.70, 105.40
The price of AUD/USD has corrected upwards after a sharp decline and now is trying to fix below 0.9300. We expect continued downward movement with the objectives at 0.9250 and 0.9215. In case of continued growth, the price may reach the upper limit of the local downward channel and the level of 0.9330. We maintain medium-term negative outlook for the Australian dollar.
Nearest support levels: 0.9250, 0.9215, 0.9130, 0.9100, 0.9000, 0.8925
Nearest resistance levels: 0.9300, 0.9400, 0.9460, 0.9500
The price of the New Zealand dollar rebounded from the bottom of the rising channel and now is trading near 0.8630. For the continued growth, the price needs to gain a foothold above this level. In such case, the quotes can reach 0.8700 and 0.8740. With the resumption of fall, the price may drop to the levels 0.8550 and 0.8520. We expect continued growth in the medium term.
Nearest support levels: 0.8550, 0.8520, 0.8450, 0.8390, 0.8250
Nearest resistance levels: 0.8630, 0.8650, 0.8700, 0.8800
The price of gold continues to consolidate above the strong the level of 1280. On the chart was formed the figure of the "triangle", after existing from which, we expect strong price movement. In case of further decrease the signal to buy will be price fixing below 1278. We expect renewed growth with the first goal near 1305, and keep medium and long term positive outlook for gold.
Nearest support levels: 1278, 1265
Nearest resistance levels: 1305, 1312, 1330, 1344, 1352