EUR/USD -- Bounce masks long-term trend exhaustion; risk to
downside correction beneath 1.1910 major wave
* 3rd resistance: 1.1889/93 Aug. 4/3 highs
* 2nd resistance: 1.1844/46 Aug. 1/July 31 highs
* 1st resistance: 1.1831 Aug. 3 low
* Spot: 1.1810
* 1st support: 1.1766 Aug. 7 low
* 2nd support: 1.1728/23 Aug. 4/July 31 lows
* 3rd support: 1.1671 July 28 low
GBP/USD -- Wave momentum points to downtrend toward 1.2775
* 3rd resistance: 1.3113 Aug. 3 low
* 2nd resistance: 1.3097 July 31 low
* 1st resistance: 1.3059 Aug. 7 high
* Spot: 1.3013
* 1st support: 1.3000 July 26 low
* 2nd support: 1.2984 July 24 low
* 3rd support: 1.2954 July 21 low
USD/JPY -- USD trading sideways, headed toward thickening
cloud, which would add confidence to the current downtrend
* 3rd resistance: 111.33/37, July 28 high/100-DMA
* 2nd resistance: 111.05 Aug. 4 high
* 1st resistance: 110.78 Ichimoku conversion line
* Spot: 110.39
* 1st support: 110.22 July 31 low
* 2nd support: 109.85/86 Aug. 4/3 lows
* 3rd support: 109.27 June 15 low
AUD/USD -- Bounce within short-term downtrend; failed at
3rd standard deviation, trending lower toward 2nd deviation
support; RSI rolled over
* 3rd resistance: 0.7980 Aug. 4 high
* 2nd resistance: 0.7969 Aug. 3 high
* 1st resistance: 0.7949 Aug. 7 high
* Spot: 0.7922
* 1st support: 0.7899 Aug. 7 low
* 2nd support: 0.7881 2nd STD Dev.
* 3rd support: 0.7838 July 17 high
Bloomberg Pro Terminal
Trader Velizar Mitov
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