26.02.2014 - Technical view

Futures on the broad U.S. stock index S&P 500 have overcome the psychological resistance level of 1850, but for the continued growth, the price will need to consolidate above this level. The price continues to move inside the rising channel and in case of change of the trend, the price can drop to 1820. We expect the growth in the medium and short term.

Nearest support levels: 1840, 1820, 1810, 1800

Nearest resistance levels: 1860

The price of EUR/USD continues to move within the local upward channel and is now trading near its lower limit. Long consolidation below resistance at 1.3770 may lead to a strong movement in the near future. The signal to buy will be the fixation of price above 1.3770. The growth in the short and medium term is limited by resistance near 1.3810. In case of price fixing below 1.37, we recommend to open short positions.

Nearest support levels: 1.3700, 1.3680, 1.3630

Nearest resistance levels: 1.3770, 1.3810

The price of GBP/USD continued the growth after the rebound from the strong support level 1.66 and went beyond the boundaries of the local correction channel. The price movement today will depend on the data on GDP growth in the 4th quarter (9:30 GMT). For the continued growth the price needs to fix above 1.67. In the short and medium term, we expect that the price of GBP/USD will continue to move inside the rising channel. We maintain our long-term positive outlook for the British 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. The increase in volatility is expected tomorrow night after the release of a large block of macrostats. 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 continues to move in a side corridor 0.8925-0.9070. Movement of the Australian dollar in the near future is hard to predict. The signal to buy will be fixation of price above 0.9070, a signal to sell will be 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 continues to consolidate near a strong level of 0.8330. For the continued growth, the price needs to gain a foothold above the local maximum 0.8390. The fall is limited by the levels of support 0.8250 and 0.8210. 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 resistance level of 1340 dollars per troy ounce and in the near future is likely to continue the growth. The closest target level at which traders can begin to fix their positions will be at 1360. Correction is possible inside the rising channel. We remain a positive long-term and medium-term forecast for the gold price.

Nearest support levels: 1330, 1310, 1290

Nearest resistance levels: 1360

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