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FOREX: EURUSD in trap between 21-DMA and 55-DMA; Major Support and Resistance 24.08.2018

EUR/USD — Trapped between 21-DMA and 55-DMA, consolidates
recent gains as it remains in bearish trendchannel
* 3rd resistance: 1.1671, trendline since June 14
* 2nd resistance: 1.1618, 55-DMA
* 1st resistance: 1.1600, Aug. 23 high
* Spot: 1.1578
* 1st support: 1.1536, 21-DMA
* 2nd support: 1.1525, conversion line
* 3rd support: 1.1509-10, June 21May 29 lows

GBP/USD — 21-DMA resistance in play as mean reversion develops
* 3rd resistance: 1.3087, 55-DMA
* 2nd resistance: 1.2958, July 19 low
* 1st resistance: 1.2893, 21-DMA
* Spot: 1.2828
* 1st support: 1.2800, session low
* 2nd support: 1.2794, Aug. 21 low
* 3rd support: 1.2771, pivot s1

USD/JPY –Finds support from 55-weekly MA, shows early
signs of bullish bias
* 3rd resistance: 112.15, Aug. 1 high
* 2nd resistance: 111.87, Aug. 3 high
* 1st resistance: 111.62, cloud top
* Spot: 111.38
* 1st support: 110.99-111.04, 55-, 21-DMA
* 2nd support: 110.52, Aug. 23 low
* 3rd support: 109.78, Aug. 21 low

AUD/USD —  Bullish bias gets strong knock as price action
develops below 21-DMA once more
develops below 21-DMA once more
* 3rd resistance: 0.7390, 55-DMA
* 2nd resistance: 0.7382, Aug. 21 high
* 1st resistance: 0.7344, 21-DMA
* Spot: 0.7282
* 1st support: 0.7238, session low
* 2nd support: 0.7203, Aug. 15 low
* 3rd support: 0.7166, pivot s2

Picture: Pexels.com 

Source: Bloomberg Finance L.P.


 Trader Velizar Mitov


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