Major Support and Resistance FOREX 31.8.2017

31.08.2017 / 15:29

Rating:

EUR/USD -- Setback not threatening and offers bulls
attractive launchpad against important support zone at
1.1847-18; market recovering from 1.1866 Thursday, the half way
point of latest upsurge
* 3rd resistance: 1.1984-93, Aug. 30 high, 61.8% Fibonacci
* 2nd resistance: 1.1947, Aug. 29 low
* 1st resistance: 1.1916-28, pivot, Aug. 28 low, Aug. 30 mid
price
* Spot: 1.1893
* 1st support: 1.1866, 50% retrace of Aug. 17-29 rise
* 2nd support: 1.1847-28, Aug. 11, 21 high
* 3rd support: 1.1818-16, 61.8% Fibonacci, 21-DMA

GBP/USD -- Retains upward bias after bouncing from 50%
retrace line of latest up-leg at 1.2876
* 3rd resistance: 1.3022-31, Aug. 14, 11 high
* 2nd resistance: 1.2979, Aug. 29 high
* 1st resistance: 1.2938-40, Aug. 30 high, 55-DMA
* Spot: 1.2883
* 1st support: 1.2879-74, Aug. 30, 28 lows
* 2nd support: 1.2852, 61.8% Fibonacci of Aug. 24 rise
* 3rd support: 1.2837, Aug. 24 high

USD/JPY -- Positive momentum conditions favor extension to
converging average lines at 111.18-20; above 110.95 at close
would force near-term bears to surrender
* 3rd resistance: 111.66, ichimoku cloud base
* 2nd resistance: 111.18-20, 100-, 55-DMA’s
* 1st resistance: 110.95, Aug. 16 high
* Spot: 110.54
* 1st support: 110.08, daily pivot
* 2nd support: 109.90, Aug. 29 high
* 3rd support: 109.55, Aug. 30 low

AUD/USD -- While Wednesday’s key day reversal lower dents
bull sentiment, support at 0.7867 monitored for more concrete
bear signs
* 3rd resistance: 0.7996, Aug. 30 high
* 2nd resistance: 0.7971, pivot r1
* 1st resistance: 0.7930, daily pivot line
* Spot: 0.7889
* 1st support: 0.7867-65, Aug. 24 low, pivot s1
* 2nd support: 0.7810-08, 55-DMA, Aug. 15 low
* 3rd support: 0.7786, July 18 low

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Trader : Velizar Mitov

Varchev Traders

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Major Support and Resistance FOREX 31.8.2017

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