27.02.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 continue to consolidate around 1840-1850 levels within the local rising channel. For continued growth the price needs to consolidate above the 1850 resistance. In the case of fall, fixation lower than 1820 will be a signal to sell. We expect growth in the medium and short term.
Nearest support levels: 1840, 1820, 1810, 1800
Nearest resistance levels: 1860
The price of EUR/USD has broken through the strong support level of 1.37 and is trying to fix below it. In case of success, we recommend to open short positions. First goal will be at 1.3630, and then the price can fall to 1.3560. Resumption of growth is unlikely to happen during the day. We keep medium and long term negative outlook for the euro.
The next support levels: 1.3630, 1.3560
Nearest resistance levels: 1.3700, 1.3770, 1.3810
The price of GBP/USD continues to fall within the local downward channel. However in the long term remains the tendency to rise. Growth is limited by the boundaries of the long-term rising channel. We recommend to open long positions after the price will fix above 1.6700. In case of reduction, a signal to sell will be fixing of price below 1.66. We maintain a 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 102.00. Breaking through the boundaries of the triangle is likely to take place tonight (after 23:15 GMT), after the release of a large block of statistics. We think that the upward movement is more probable. 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 reached the bottom of the side corridor 0,8925-0,9070. At the moment the upward rebound is possible. Besides, the support for price is the inclined line. For penetration of this level a significant incentive will be required. In case of further decrease, a signal to sell will be fixation of price below 0.8925. We maintain long-term and medium-term negative outlook for the Australian dollar.
The next support levels: 0.8925, 0.8900, 0.8830
Nearest resistance levels: 0.9070, 0.9160
After yesterday's decline, the price of NZD/USD has won back the losses and again is located near the level of 0.8330. If the price will not be able to fix above this level, we expect the subsequent decrease in quotations of the New Zealand dollar. 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 was unable to gain a foothold above the level of 1340 dollars per troy ounce, broke the lower boundary of the rising channel and fell below the level of 1330. With further lowering, the price may reach the support located at 1310. We remain positive on the long-term and medium-term forecast for the gold price.
The next support levels: 1310, 1290
Nearest resistance levels: 1344, 1360