Major Support and Resistance FOREX 22.8.2017

22.08.2017 / 15:23

Rating:

EUR/USD -- Strong Monday session provides concrete evidence
that larger uptrend has reasserting itself; setbacks seen
limited and fresh rally past 1.1828 expected to produce a new
phase of bull momentum that targets 1.20+
* 3rd resistance: 1.1893, Aug. 3 high
* 2nd resistance: 1.1847, Aug. 11 high
* 1st resistance: 1.1828, Aug. 21 high
* Spot: 1.1770
* 1st support: 1.1731, Aug. 21 low
* 2nd support: 1.1708, Aug 18 low
* 3rd support: 1.1662, Aug. 17 low

GBP/USD -- At crossroads as cracks begin to emerge along
1.2848 Fibonacci support
* 3rd resistance: 1.2970, Aug. 15 high
* 2nd resistance: 1.2930-40, 55-DMA, Aug. 11 low
* 1st resistance: 1.2917, Aug. 18 high
* Spot: 1.2848
* 1st support: 1.2832, Aug. 18 low
* 2nd support: 1.2812, July 12 low
* 3rd support: 1.2794, June 28 low

USD/JPY -- Keeps bearish tone despite failure to sustain
sub-109 levels; weekly charts on critical watch this week as
market keeps hovering near 108.84 cloud base support
* 3rd resistance: 110.03, Aug. 16 low
* 2nd resistance: 109.77, ichimoku conversion line
* 1st resistance: 109.60, Aug. 18 high
* Spot: 109.38
* 1st support: 108.60, Aug. 18 low
* 2nd support: 108.32, April 18 low
* 3rd support: 108.13, April 17 low

USD/CHF -- 0.9584 key swing support held on Friday after
initial probe; keeps neutral-to-bearish stance on daily charts
* 3rd resistance: 0.9766, Aug. 16 high
* 2nd resistance: 0.9699, Aug. 17 high
* 1st resistance: 0.9685, Aug. 21 high
* Spot: 0.9656
* 1st support: 0.9615, Asia low
* 2nd support: 0.9586, Aug. 18 low
* 3rd support: 0.9567, 61.8% Fibonacci of July 21/Aug. 8 rise

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Trader Велизар Митов

Varchev Traders

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Major Support and Resistance FOREX 22.8.2017

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