28.02.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 once again have overcome the psychological resistance level of 1850. In case of consolidation above this level, we recommend to open long positions. The target in this case may be the upper limit of the local rising channel. The fall is limited by the levels of support placed at 1840 and 1820. We expect that in the near future the price will continue to move inside the rising channel. We anticipate growth in the medium and short term.
Nearest support levels: 1840, 1820, 1810, 1800
Nearest resistance levels: 1860
Decline of the Euro has stopped near the support level 1.3650 and the price once again has reached a strong level of 1.37. Now quotations of EUR/USD are consolidating near this level and further movement will be determined by statistics from Europe (10:00 GMT) and the U.S. (13:30 GMT), after the release of which is expected the increase in volatility. We maintain a medium-term and long-term negative outlook.
The next support levels: 1.3630, 1.3560
Nearest resistance levels: 1.3770, 1.3810
The price of GBP/USD has reached the upper limit of the local downward channel. After a long consolidation a strong movement is possible. The signals to buy will be breaking through the upper boundary of the channel and fixation of price above 1.67. Reduction is limited by the boundaries of the downward channel. We keep medium and long term positive outlook for the British pound.
Nearest support levels: 1.6640, 1.6600, 1.6550, 1.6460
Nearest resistance levels: 1.6700, 1.6820
The price of USD/JPY broke the lower boundary of the "triangle" and fixed below. At the same time the price has fallen below the previous minimum of 102.00. We recommend to open short positions. Target levels in case of decrease are 100.90, 100.00 and 99.00. Despite this, we maintain a long-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 lower limit of the side corridor 0,8925-0,9070 and rebounded upwards. On the chart has formed a local downstream channel and it is likely that in the near future the price will continue to move within it. 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.
Nearest support levels: 0.8925, 0.8900, 0.8830
Nearest resistance levels: 0.9070, 0.9160
The price of NZD/USD has continued the upward movement and has overcome level of the nearest local maximum of 0.8390. We recommend opening long positions if the price will gain a foothold above this level. The fall is limited by the levels of support 0.8330 and 0.8210. We have revised medium-term outlook for the New Zealand dollar to positive.
Nearest support levels: 0.8330, 0.8250, 0.8210
Nearest resistance levels: 0.8430
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. At the moment, the price continues to consolidate near this level and there is no signal to enter in this or that position. We keep medium and long term positive outlook with the first target in the area of 1360 per troy ounce.
Nearest support levels: 1310, 1290
Nearest resistance levels: 1344, 1360