25.02.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 renewed its historical highs in the area of 1850, but was unable to fix above this level. At the moment the price is consolidating above 1845, in case of fixation above it, the price will likely continue to increase higher than 1850. Corrective movement is limited by the support placed at 1820. We expect growth in the medium and short term.
Nearest support levels: 1820, 1810, 1800
Nearest resistance levels: 1850, 1860
The price of EUR/USD continues to move within the local upstream channel and is now trading near its lower limit. For continued growth within the channel, the price should be fixed above resistance at 1.3770. In case the price fixing below 1.37, will be completed pattern formation "double top", which is a reversal pattern. In this case we recommend opening short positions. In the long term, we expect the euro price to decline. It is necessary to wait for the signal in order to estimate direction in the near future.
Nearest support levels: 1.3700, 1.3680, 1.3630
Nearest resistance levels: 1.3770, 1.3810
The price of GBP/USD has reached the support level 1.66 while moving within the local correction channel, but bounced back. In case of continuous movement within the channel, the price is likely to reach 1.66 again. Possibility of renewed growth in the next few days is quite high. We recommend opening long positions after fixing of price above 1.67. We maintain a long-term and medium-term positive outlook for the pound.
Nearest support levels: 1.6600, 1.6550, 16460
Nearest resistance levels: 1.6700, 1.6820
On the price chart USD/JPY has formed the figure - "triangle". The price continues to consolidate below the upper boundary of the triangle. Fixation above 102.70 will be a signal to buy with the targets at 104.70 and 105.40. For opening short positions the quotes need to fix below 101.50. We maintain long-term and medium-term positive outlook for the USD/JPY.
Nearest support levels: 101.50, 100.90
Nearest resistance levels: 102.70, 103.00, 103.50
The price of AUD/USD has broken through the inclined resistance line within the corridor 0,8925-0,9070 and reached 0.9050. We expect that in case of further decline the price will reach 0.90. A signal to sell with the target price at 0.87, will be the price fixation below 0.8925. We maintain long-term and medium-term negative outlook for the Australian dollar.
Nearest support levels: 0.8925, 0.8900, 0.8830
Nearest resistance levels: 0.9070, 0.9160
The price of NZD/USD has moved beyond the local descending channel. Growth with the target at 0.8390 may continue after the correction to 0.8310. We expect the New Zealand dollar to decrease in the long and medium term.
Nearest support levels: 0.8250, 0.8210, 0.8060
Nearest resistance levels: 0.8390
The price of gold has overcome the nearest local maximum of about $ 1,330 per troy ounce and continued the growth in the uptrend. Target level for the future growth will be at 1360. We remain a positive long-term and medium-term forecast for the gold price.
Nearest support levels: 1330, 1310, 1290
Nearest resistance levels: 1360