FOREX:Major Support and Resistance 12.02.2018

12.02.2018 / 14:35

Rating:

EUR/USD -- Pondering next move as pair holds steady near
50% retrace line of January low-high move (1.2227); close above
1.2295 would re-insert topside risks on charts
* 3rd resistance: 1.2368, 13-day MA
* 2nd resistance: 1.2321-29, mid-candle body price, 21-day MA
* 1st resistance: 1.2297, European high
* Spot: 1.2270
* 1st support: 1.2248, daily pivot
* 2nd support: 1.2206, price low
* 3rd support: 1.2165-53, price low, 61.8% Fibonacci of Jan.
low/high

USD/JPY -- Downtrend conditions persist with falling 21-day
MA guiding the bear journey
* 3rd resistance: 110.29-48, price highs
* 2nd resistance: 109.68-78-81, 21-day MA, price high
* 1st resistance: 109.26-31, ichimoku conversion line,
* Spot: 108.72
* 1st support: 108.13-05, pivot s1, price low
* 2nd support: 107.46, pivot s2
* 3rd support: 107.32, price low in 2017

GBP/USD -- Downside bias persists with next down-leg
expected to encounter stronger demand and accumulation interest
near and into 1.3659-13 area; market has retraced 62% of January
low-high
* 3rd resistance: 1.4037, 13-day MA
* 2nd resistance: 1.4918, 200-hour MA
* 1st resistance: 1.3987-94, price high, 21-day MA
* Spot: 1.3855
* 1st support: 1.3765, price low
* 2nd support: 1.3732, pivot s1
* 3rd support: 1.3659, 55-day MA

AUD/USD -- Selling abates with signs of basing activity
against double MA support lines at 0.7770-57; momentum oversold,
which in a rising market represents value
* 3rd resistance: 0.7910, price high
* 2nd resistance: 0.7864, mid open/close price
* 1st resistance: 0.7842, pivot r1
* Spot: 0.7820
* 1st support: 0.7801, daily pivot
* 2nd support: 0.7770-57, 100-, 200-day MAs
* 3rd support: 0.7744, daily cloud top

Source Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX:Major Support and Resistance 12.02.2018

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