FOREX: EURUSD with focus on 1.1187$: Major Support and Resistance 15.08.2018



EUR/USD --Neckline breach of a head-and-shoulders pattern
that started almost a year ago and that of a bearish descending
triangle keep the pair in heavy trading mode; support around
1.1300, while a close below targets 1.1187; stays bearish on
closes below 1.1575
* 3rd resistance: 1.1527-30, June 28-Aug. 6 lows
* 2nd resistance: 1.1509-10, June 21-May 29 lows
* 1st resistance: 1.1433, Aug. 13 high
* Spot: 1.1425
* 1st support: 1.1365, Aug. 13 low
* 2nd support: 1.1335, pivot s3
* 3rd support: 1.1187, 61.8% Fibonacci retracement of gains
since January 2017

GBP/USD --trades heavy after closing below 61.8% Fibo support zone 1.2710$
* 3rd resistance: 1.2958-60, July 19 low-Aug. 8 high
* 2nd resistance: 1.2837, Aug. 10 high
* 1st resistance: 1.2830, pivot r2
* Spot: 1.2797
* 1st support: 1.2723-24, Aug. 10-13 lows
* 2nd support: 1.2694, pivot s2
* 3rd support: 1.2589, June 21, 2017 low

USD/JPY -- Struggles to stay above the cloud; needs consecutive close below 55-DMA to ascertain bearish momentum;
* 3rd resistance: 111.64, base line
* 2nd resistance: 111.44, 21-DMA
* 1st resistance: 110.99, conversion line
* Spot: 110.96
* 1st support: 110.11, Aug. 13 low
* 2nd support: 109.88, 38.2% Fibonacci retracement of gains
since March 26
* 3rd support: 109.76, cloud bottom

AUD/USD --close below 0.7204 risk level will keep bearish bias intact
* 3rd resistance: 0.7318, July 20 low
* 2nd resistance: 0.7311, July 2 low
* 1st resistance: 0.7300, Aug. 13 high
* Spot: 0.7272
* 1st support: 0.7251, Aug. 13 low
* 2nd support: 0.7175, pivot s3
* 3rd support: 0.7107, last Fibonacci retracement of gains since
January 2016

 Trader Velizar Mitov

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