FOREX:Major Support and Resistance 3.11.2017

03.11.2017 / 15:39

Rating:

EUR/USD -- Consolidates post-ECB move while capped by 100-
DMA resistance; market so far meeting the characteristics of a
bear ‘flag’ formation; below 1.1613 at close would confirm
bearish continuation pattern
* 3rd resistance: 1.1725, Oct. 23 low
* 2nd resistance: 1.1701-06, 100-DMA, ichimoku conversion line
* 1st resistance: 1.1687, Nov. 2 high
* Spot: 1.1645
* 1st support: 1.1613-06, Nov. 2, 1 low
* 2nd support: 1.1594, Oct. 30 low
* 3rd support: 1.1575, Oct. 27 low

GBP/USD -- Thursday’s closing break below 100-DMA at 1.3083
puts 200-DMA in the spotlight at 1.2856; the post-BOE strong-
sell commitment opens risk for profit-take bounce against the
1.3027 support
* 3rd resistance: 1.3152, Nov. 2 mid open/close price
* 2nd resistance: 1.3134, daily pivot line
* 1st resistance: 1.3106, Oct. 30 low
* Spot: 1.3054
* 1st support: 1.3027, Oct. 6 low
* 2nd support: 1.2995-82, Sept. 1 high, 76.4% Fibonacci of Aug.
move up
* 3rd support: 1.2966, Sept. 4 high

USD/JPY -- Thursday’s early N.Y session sudden selloff
contained by ichimoku and price average area at 113.71-46
(conversion line, 13-DMA); balance of risks keep pointing to
114.50 breakout
* 3rd resistance: 114.88, March 15 high
* 2nd resistance: 114.63, pivot r2
* 1st resistance: 114.45-49, Oct. 27, July 11 high
* Spot: 114.06
* 1st support: 113.71, ichimoku conversion line
* 2nd support: 113.54, Nov. 2 low, ichimoku conversion line
* 3rd support: 113.27, pivot s2

AUD/USD -- Rebound greeted with sell interest against prior
break-down point at 0.7733
* 3rd resistance: 0.7771, Oct. 11 low
* 2nd resistance: 0.7748-50, Oct. 9, 10 low
* 1st resistance: 0.7733, Oct. 6 low
* Spot: 0.7672
* 1st support: 0.7640, Oct. 31 low
* 2nd support: 0.7625, Oct. 27 low
* 3rd support: 0.7603, July 11 low

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

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FOREX:Major Support and Resistance 3.11.2017

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