25.03.2014 - Technical view

Futures on the broad U.S. stock index S&P 500 have reached the bottom of the ascending channel, but bounced up and continues to consolidate above the level of 1858. Growth to the level of 1880 is more probable in the next days. In case of fixing above this level, the price is likely to continue the growth within the channel. In case of reduction, a signal to sell will be price fixing below 1840. We maintain a long-term negative outlook, but we expect growth in the near future.

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

Nearest resistance levels: 1880, 1900

The price of euro returned inside the rising channel and has overcome the resistance level 1.3850, but failed to gain a foothold above it. Now the price is moving near the lower limit of the upward channel and in case of fixing above this level will probably continue an upward movement. In case of fall, a signal to sell will be price fixing below 1.3750. We maintain a long-term negative outlook for the euro.

Nearest support levels: 1.3810, 1.3750, 1.3700, 1.3630, 1.3650

Nearest resistance levels: 1.3850, 1.3900, 1.3960

The price of GBP/USD after a sharp jump upwards went back to the level of 1.6500, near which continues to consolidate. For changing of trend, the price needs to exit from the downstream channel. In case of further decline within the descending channel, the quotes can reach the level of 1.64. We maintain a long-term positive outlook. In the medium term the price will continue to move inside the downward channel.

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 consolidated in the corridor 102,15-102,50. For continued growth, the price needs to gain a foothold above the mark of 102.70. At the same time objectives are the levels 103.50 and 104.00. Decrease inside the rising channel is possible to level 101.90 and 101.25. We reserve the medium and long term positive outlook for the USD/JPY.

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 has overcome the resistance level 0.9130, but failed to gain a foothold above it. In case of continued growth, a signal to buy will be growth of the price above 0.9150. In case of decrease the price may reach the lower boundary of the local downstream channel. 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 fall, a signal to sell will be price fixing below 0.8450. The target prices in such case will be at 0.8390 and 0.8250. We need new signals in order to determine the future direction of prices.

Nearest support levels: 0.8500, 0.8450, 0.8390, 0.8250

Nearest resistance levels: 0.8600, 0.8700

The price of gold continued to fall, broke through the inclined line and reached the level of 1310. We expect an upward correction to 1320. For resumption of growth the price needs to exit the descending channel and consolidate above 1330 levels. We maintain a long-term positive outlook.

Nearest support levels: 1310, 1300

Nearest resistance levels: 1320, 1330, 1344, 1352

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