FOREX:Euro Enters Pivotal Support Area; Pound Bearish; Major Support and Resistance 27.04.2018

27.04.2018 / 15:22

Rating:

EUR/USD -- Lower end of trend channel since Feb. 16 comes
~1.2030; pivotal 1.2070-90 area in focus; pair remains bearish
on closes below 1.2272
* 3rd resistance: 1.2284-1.2317, 21-, 55-DMAs
* 2nd resistance: 1.2215, April 6 low
* 1st resistance: 1.2155, May 1 low
* Spot: 1.2092
* 1st support: 1.2070-90, January breakout area
* 2nd support: 1.2055, midpoint of gains since Nov. 7
* 3rd support: 1.2032-35, 23.6% Fibonacci retracement of gains
since Jan. 2017, lower end of trend channel since Feb. 16

GBP/USD -- Bearish trend persists on consecutive closes
below 55-DMA;
* 3rd resistance: 1.4094, 21-DMA
* 2nd resistance: 1.4031, April 23 high
* 1st resistance: 1.4012, 55-DMA
* Spot: 1.3909
* 1st support: 1.3895, April 26 low
* 2nd support: 1.3890, March 16 low
* 3rd support: 1.3854, 78.6% Fibonacci retracement of gains
since March 1

USD/JPY -- Stays above Ichimoku cloud;
* 3rd resistance: 110.50, 233-DMA
* 2nd resistance: 109.65, midpoint of losses since Nov. 6
* 1st resistance: 109.47, April 26 high
* Spot: 109.33
* 1st support: 108.79, April 25 low
* 2nd support: 108.18, midpoint of Monday’s gains
* 3rd support: 107.78, April 13 high

AUD/USD -- Fresh year-to-date low;
* 3rd resistance: 0.7688, 21-DMA
* 2nd resistance: 0.7621, April 24 high
* 1st resistance: 0.7589, April 26 high
* Spot: 0.7544
* 1st support: 0.7502, Dec. 8 low
* 2nd support: 0.7480, pivot s3
* 3rd support: 0.7373, June 2017 low

Source: Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX:Euro Enters Pivotal Support Area; Pound Bearish; Major Support and Resistance 27.04.2018

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