* USD/JPY -- Ichimoku conversion line caps for 3rd consecutive day (line has dropped to 110.78 today); despite this, near- term outlook stays mildly bullish
* 3rd resistance: 111.49-53, 55-DMA, 21-DMA
* 2nd resistance: 111.33-37, July 28 high, 100-DMA
* 1st resistance: 111.05, Aug. 4 high
* Spot: 110.78
* 1st support: 110.37, Aug. 4 mid open/close price
* 2nd support: 109.85, Aug. 4 low
* 3rd support: 109.27, June 15 low
* AUD/USD -- Finds stability at 21-DMA (0.7898)
* 3rd resistance: 0.8066, July 27 high
* 2nd resistance: 0.8043, Aug. 1 high
* 1st resistance: 0.7980-93, Aug. 4, 2 high
* Spot: 0.7928
* 1st support: 0.7898, 21-DMA
* 2nd support: 0.7878, July 26 low
* 3rd support: 0.7838, July 17 high
* EUR/USD -- Risks still skewed for tactical weakness; any close above 1.1831 may alleviate some downside pressure
(EU548m option expiry at 1.1800)
* 3rd resistance: 1.1969-75, Jan. 6, 2015 high, 233-DMA
* 2nd resistance: 1.1910, Aug. 2 high
* 1st resistance: 1.1831, Aug. 3 low
* Spot: 1.1816
* 1st support: 1.1766, Aug. 7 low
* 2nd support: 1.1728-23, Aug. 4, July 31 low
* 3rd support: 1.1650, July 27 low
* USD/CHF -- Bullish momentum profile argues for topside extension toward 100-DMA at 0.9794
* 3rd resistance: 0.9826, ichimoku cloud top
* 2nd resistance: 0.9794, 100-DMA
* 1st resistance: 0.9771, June 15 high
* Spot: 0.9730
* 1st support: 0.9711, Aug. 7 low
* 2nd support: 0.9671, Aug. 4 low
* 3rd support: 0.9649, Aug. 2 low
* EUR/NOK -- Rolls over; resumes downtrend
* 3rd resistance: 9.4198, July 14 high
* 2nd resistance: 9.3928, July 24 high
* 1st resistance: 9.3529, Asia high
* Spot: 9.3261
* 1st support: 9.3041, Aug. 1 low
* 2nd support: 9.2783, July 31 low
* 3rd support: 9.2682, July 28 low
* EUR/JPY -- Balance of risks are higher while above 21-DMA (130.09)
* 3rd resistance: 132.32, Jan. 29 2016 high
* 2nd resistance: 132.03, Feb. 1 2016 high
* 1st resistance: 131.40-66, Aug. 2 high, Feb. 4 2016 high
* Spot: 130.58
* 1st support: 130.10, Aug. 4 low
* 2nd support: 129.84, Aug. 1 low
* 3rd support: 129.55, July 31 low
* GBP/USD -- Room to extend corrective pullback to 1.2933-25 region, which includes the 55-DMA
* 3rd resistance: 1.3164, Aug. 4 high
* 2nd resistance: 1.3113, Aug. 3 low
* 1st resistance: 1.3089, Aug. 4 mid open/close price
* Spot: 1.3044
* 1st support: 1.3000, July 26 low
* 2nd support: 1.2984, July 24 low
* 3rd support: 1.2933, July 20 low
* EUR/GBP -- Testing near highs of the year; stays bullish
* 3rd resistance: 0.9153, 76.4% Fibonacci of Oct.-Dec. fall
* 2nd resistance: 0.9083, pivot r2
* 1st resistance: 0.9066, pivot r1
* Spot: 0.9056
* 1st support: 0.9022, Aug. 7 low
* 2nd support: 0.8995-89, July 21, Aug. 2 high
* 3rd support: 0.8924, Aug. 3 low
Source: Bloomberg Pro Terminal
Trader Nikolay Georgiev
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.