28.03.2014 - Technical view
Futures on the broad U.S. stock index S&P 500 fixed under the lower boundary of the rising channel and almost reached the level of 1840, but failed to break through it. In case of further decrease, a signal to sell will be price fixing below 1840. The target price in this case will be at the levels of 1800 and 1780. We maintain a long-term negative outlook on the futures.
Nearest support levels: 1840, 1830, 1820
Nearest resistance levels: 1858, 1880, 1900
The price of euro broke the lower boundary of the rising channel and tries to fix below 1.3750. In case of further reduction the closest targets will be at 1.3700 and 1.3630. Growth is limited by the lower boundary of the rising channel. We maintain a long-term negative outlook for the euro.
Nearest support levels: 1.3700, 1.3630, 1.3650
Nearest resistance levels: 1.3850, 1.3900, 1.3960
The price of GBP/USD fixed above the strong level of 1.6600. We recommend to open long positions with the targets at 1,6700 and 1.6770. Increase in volatility is expected at 09:30 GMT, after the release of a large block of macro statistics. We expect further growth and maintain a long-term positive outlook.
Nearest support levels: 1.6600, 1.6500, 1.6400, 1.6300
Nearest resistance levels: 1.6650, 1.6770, 1.6820
The price of USD/JPY after a sharp decline came back to the level of 102.15 and continues to consolidate in this area. A signal to buy will be fixing the price above 102.70. Decline is limited by the lower boundary of the channel and the support level at 101.50. 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 increased to the upper limit of the upward channel and almost reached the level of 0.9300. We expect price correction within the channel, after which the growth of quotations may resume. We will need new signals to determine the further price movement.
Nearest support levels: 0.9200, 0.9130, 0.9100, 0.9000, 0.8925
Nearest resistance levels: 0.9300
The price of the New Zealand dollar has broken through the resistance level at 0.8630 and continued growth. The quotes of the pair reached the lower limit of the upward channel and can either continue to grow along it, or correct to the level of 0.8630. We maintain our positive outlook for the New Zealand dollar, but note a high probability of correction in the near future.
Nearest support levels: 0.8630, 0.8500, 0.8450, 0.8390, 0.8250
Nearest resistance levels: 0.8700
The price of gold continued to fall along the upper boundary of the descending channel and has broken through the psychological level of $ 1,300 per troy ounce. In case of the trend change a signal to buy will be a break through the upper boundary of the descending channel and fixing the price above 1315 dollars per troy ounce. We maintain a long-term positive outlook for gold.
Nearest support levels: 1290, 1275
Nearest resistance levels: 1315, 1320, 1330, 1344, 1352