FOREX: Major Support and Resistance 8.11.2017

08.11.2017 / 16:05

Rating:

EUR/USD -- Finally cracks 1.16 on closing basis (first time
sub 1.16 since July); eyes next zonal support at 1.1491-79
* 3rd resistance: 1.1658, 76.4% Fibonacci of Nov. 3-7 fall
* 2nd resistance: 1.1638, 61.8% Fibonacci of Nov. 3-7 fall
* 1st resistance: 1.1617-24, pivot r1, Nov. 6 high
* Spot: 1.1597
* 1st support: 1.1554, Nov. 7 low
* 2nd support: 1.1491, 61.8% Fibonacci of June-Sept. rise
* 3rd support: 1.1479, July 20 low

GBP/USD -- Strong layer of resistance at 1.3172-91
(quadruple average line area -- 13, 21-DMAs, ichimoku conv. and
baseline) helps curtail strength
* 3rd resistance: 1.3214-16, 61.8% Fibonacci, daily cloud base
* 2nd resistance: 1.3191, 21-DMA
* 1st resistance: 1.3181-82, ichimoku conv./baseline
* Spot: 1.3143
* 1st support: 1.3109, Nov. 7 low
* 2nd support: 1.3098, 100-DMA
* 3rd support: 1.3083, pivot s2

EUR/JPY -- Flat ichimoku cloud base exposed at 130.99 with
100-DMA lurking just under at 130.78
* 3rd resistance: 133.12-15, Nov. 6, 2 high
* 2nd resistance: 132.42, Nov. 7 high
* 1st resistance: 132.16, 55-DMA
* Spot: 132.02
* 1st support: 131.54-46, pivot s1, Oct. 30 low
* 2nd support: 130.99, daily cloud base
* 3rd support: 130.78, 100-DMA

USD/JPY -- Monday’s ’shooting star’ reversal candlestick
earning validation with Wednesday’s fresh weekly low; ichimoku
’slow’ line exposed at 113.19
* 3rd resistance: 114.73, Nov. 6 high
* 2nd resistance: 114.34, Nov. 7 high
* 1st resistance: 114.02, daily pivot line
* Spot: 113.79
* 1st support: 113.54, Nov. 2 low
* 2nd support: 113.38, 76.4% Fibonacci of Oct. 31- Nov. 6 rise
* 3rd support: 113.30-19, 21-DMA, ichimoku baseline

AUD/USD -- Able to maintain a foothold above key 61.8%
Fibonacci support at 0.7633, seen as the breakdown point for
0.7572
* 3rd resistance: 0.7733, Oct. 6 low
* 2nd resistance: 0.7716, Nov. 3 high
* 1st resistance: 0.7701, Nov. 7 high (post-RBA reaction high)
* Spot: 0.7667
* 1st support: 0.7625, Oct. 27 low
* 2nd support: 0.7603, July 11 low
* 3rd support: 0.7571, July 5 low

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

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FOREX: Major Support and Resistance 8.11.2017

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