FOREX: Euro Needs February Trendline Negation to Eye Highs; Major Support and Resistance 15.03.2018г

15.03.2018 / 13:52

Rating:

EUR/USD -- Close above 21-DMA provides momentum to
challenge bearish trend since Feb. 16; bulls comforted by 55-DMA
defining lower end of range; 1.2444-46 resistance key
* 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: 1.2407, trendline since three-year and YTD
high
* Spot: 1.2366
* 1st support: 1.2339, 21-DMA
* 2nd support: 1.2315, March 13 low
* 3rd support: 1.2275, 55-DMA

GBP/USD -- Bearish trend starting on Jan. 25 negated;
bullish momentum needs 55-DMA to keep supporting, February highs
in focus
* 3rd resistance: 1.4070, Feb. 26 high
* 2nd resistance: 1.4028, 50% retreat of drop since YTD high
* 1st resistance: 1.3994-96, March 13-14 double-top
* Spot: 1.3980
* 1st support: 1.3928, base line
* 2nd support: 1.3918, 21-DMA
* 3rd support: 1.3876, 55-DMA

USD/JPY -- Bulls fail to win battle with 21-DMA resistance
while trendline since Feb. 21 still caps
* 3rd resistance: 107.51, base line
* 2nd resistance: 107.07, trendline
* 1st resistance: 106.54, 21-DMA
* Spot: 106.04
* 1st support: 105.79, Asia session low
* 2nd support: 105.46, March 7 low
* 3rd support: 105.25, YTD low

AUD/USD -- Capped by 55-DMA, bearish trend questioned
* 3rd resistance: 0.7988, Feb. 16 high
* 2nd resistance: 0.7934-35, Feb. 20-19 double-top
* 1st resistance: 0.7892-93, 55-DMA, Feb. 26 high
* Spot: 0.7865
* 1st support: 0.7838, 21-DMA
* 2nd support: 0.7772-73, March 7-8 double-bottom
* 3rd support: 0.7713, March 1 low

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

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FOREX: Euro Needs February Trendline Negation to Eye Highs; Major Support and Resistance 15.03.2018г

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