FOREX:Dollar-Bearish Signal as Euro Enjoys 55-DMA Support; Major Support and Res 02.03.2018




EUR/USD -- The Bloomberg Dollar Spot Index formed a bearish
engulfing line Thursday, signaling latest rebound will stall;
euro rebounds from 55-DMA support; 1.2070-90 area remains key to
keep the pair within its bullish trajectory
* 3rd resistance: 1.2355, Feb. 26 high
* 2nd resistance: 1.2329, 21-DMA
* 1st resistance: 1.2301, trendline from Feb. 19 high
* Spot: 1.2260
* 1st support: 1.2194, 55-DMA
* 2nd support: 1.2165, Jan. 18 low
* 3rd support: 1.2089, Jan. 12 high

GBP/USD -- Closes below 55-DMA a second day; close above
1.3820 needed to mark short-term bottom
* 3rd resistance: 1.3953, 21-DMA
* 2nd resistance: 1.3857, Feb. 22 low
* 1st resistance: 1.3791, 55-DMA
* Spot: 1.3773
* 1st support: 1.3712, Thursday low
* 2nd support: 1.3685, pivot s2
* 3rd support: 1.3642, 78.6% Fibonacci retracement of gains
since Jan. 11

USD/JPY -- 105.55 YTD low back in focus
* 3rd resistance: 107.62, 21-DMA
* 2nd resistance: 107.20, Thursday high
* 1st resistance: 106.29, Asia session high
* Spot: 105.88
* 1st support: 105.55, YTD low
* 2nd support: 104.94, 78.6% Fibonacci retracement of gains
since U.S. elections
* 3rd support: 104.46, pivot s3

AUD/USD -- Trades heavy as 21-DMA bearishly crosses 55-DMA
* 3rd resistance: 0.7850-72, 21-, 55-DMA
* 2nd resistance: 0.7803, pivot r2
* 1st resistance: 0.7784, Feb. 27 low
* Spot: 0.7763
* 1st support: 0.7713, March 1 low
* 2nd support: 0.7695, Dec. 15 high
* 3rd support: 0.7638, 78.6% Fibonacci retracement of gains
since December

Source: Bloomberg Pro Terminal

Trader Velizar Mitov

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