FOREX: Euro Looks for 55-DMA Support as Double-Top Caps; Major Support and Resistance 09.03.2018г.

EUR/USD -- Closes below 21-DMA (now at 1.2334), bulls need
55-DMA to define lower end of range once more; a drop below
1.2155 sends pair into lower highs, lower lows pattern
* 3rd resistance: 1.2469, 78.6% Fibonacci retracement of drop
since Feb. 16
* 2nd resistance: 1.2444-46, March 7-8 double-top
* 1st resistance: 1.2406, pivot r1
* Spot: 1.2318
* 1st support: 1.2269, March 5 low
* 2nd support: 1.2241, 55-DMA
* 3rd support: 1.2155, March 1 low

GBP/USD -- Downside risks intact as long as 21-DMA caps on
a closing basis; close below 55-DMA enforces bearish momentum
* 3rd resistance: 1.3930, March 6 high
* 2nd resistance: 1.3904, 21-DMA
* 1st resistance: 1.3835, 55-DMA
* Spot: 1.3807
* 1st support: 1.3782, March 8 low
* 2nd support: 1.3758, pivot s2
* 3rd support: 1.3712, March 1 low

USD/JPY -- Bulls finally test 21-DMA resistance, weekly
close important to set a short-term bottom
* 3rd resistance: 107.87, base line
* 2nd resistance: 107.20, March 1 low
* 1st resistance: 106.87, 21-DMA
* Spot: 106.71
* 1st support: 106.17, Asia session low
* 2nd support: 105.89, March 8 low
* 3rd support: 105.25, YTD low

AUD/USD -- Capped by 21-DMA, firmly in bearish mode for now
* 3rd resistance: 0.7893, Feb. 26 high
* 2nd resistance: 0.7883, 55-DMA
* 1st resistance: 0.7835, 21-DMA
* Spot: 0.7794
* 1st support: 0.7772-73, March 7-8 double-bottom
* 2nd support: 0.7713, March 1 low
* 3rd support: 0.7638, 78.6% Fibonacci retracement of gains
since December

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

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