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

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance