Trading Support and Resistance – 18 March 2018

Trading Support and Resistance – 18 March 2018

This week we’ll begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 16 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let’s take a look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

Chart 1

Monthly Forecast March 2018

For the month of March, we forecasted that the best trades would be short USD/JPY and long EUR/USD. The performance to date is as follows:

Currency Pair

Forecast Direction

Interest Rate Differential

Performance to Date


Long ↑

-1.50% (0.00% – 1.50%)



Short ↓

1.60% (1.50% – -0.10%)



Weekly Forecast 18th March 2018

Last week, forecasted that the AUD/JPY and CAD/CHF currency crosses would both fall in value. AUD/JPY fell by 2.52% and CAD/CHF by 2.11% so it was a very effective and profitable weekly trade.

This week, we make no weekly forecast, as there were no strong counter-trend movements this week.

This week has been dominated by relative strength in the Japanese Yen, and relative weakness in the Canadian Dollar.

Volatility was the same as it was last week, with approximately 41% of the major or minor currency pairs changing in value by more than 1%. Volatility is likely to be higher next week.

You can trade our forecasts in a real or demo Forex brokerage account.

Key Support/Resistance Levels for Popular Pairs

We teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that should be watched on the more popular currency pairs this week, which might result in either reversals or breakouts:

Currency Pair

Key Support / Resistance Levels


Support: 0.7696, 0.7640, 0.7629, 0.7598

Resistance: 0.7773, 0.7804, 0.7851, 0.7935


Support: 1.2284, 1.2252, 1.2005, 1.1885

Resistance: 1.2292, 1.2347, 1.2385, 1.2436


Support: 1.3879, 1.3822, 1.3759, 1.3657

Resistance: 1.4168, 1.4330, 1.4435, 1.4514


Support: 105.82, 103.34, 100.03, 0.9886

Resistance: 106.37, 108.05, 109.76, 110.52


Support: 81.50, 81.07, 80.62, 80.31

Resistance: 82.20, 82.70, 83.26, 83.60


Support: 129.12, 128.40, 127.44, 126.48

Resistance: 130.49, 130.59, 131.00, 131.87


Support: 1.3072, 1.2960, 1.2909, 1.2890

Resistance: 1.3200, 1.3308, 1.3373, 1.3427


Support: 0.9488, 0.9423, 0.9327, 0.9318

Resistance: 0.9574, 0.9665, 0.9732, 0.9816

You can trade our forecasts in a real or demo Forex brokerage account to test the strategies and strengthen your self-confidence before investing real funds.

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