It’s time for this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out this Friday.
Euro/Dollar has moved higher, and it now has R1 of 1 1210 and S1 of 1 1170.
Standing near a 150 day moving average, R1 sees 7 confirmations. The second line has found 5 matches, and R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 2 other studies. The highest support line has found 6 matches, and S2 is a 50 day moving average with 5 models. S3 sees 4 confirmations, including Price Channel Indicator Lower Line and Bollinger Lower Band.
The Cable is up as well, trading in the range limited by R1 of 1 3320 and S1 of 1 3270.
The lowest resistance line sees 2 confirmations, and Price Channel Indicator Upper Line is among the 2 models for R2. A psychological level is the only match for R3. Standing at a 50 day moving average, S2 sees 6 confirmations. The highest support line has found 2 matches, and a psychological level is the only model for S3.
Dollar/Yen, on the other hand, has seen a drop which leaves it below R1 of 103 50 and above S1 of 103 10.
Bollinger Upper Band is among the 6 studies for R1, while the upper two resistance lines see 2 confirmations each, including Price Channel Indicator Upper Line for R2 and a 100 day moving average for R3. The highest support line has found 4 matches, and S2 counts a 50 day moving average among its 3 confirmations. S3 is a 20 day moving average with 2 studies.
And Dollar/Swiss Franc finds itself between R1 of 0 9830 and S1 of 0 9790.
R1 is the most confirmed resistance line with 8 models. R3 remains a major psychological level with 3 matches, and Price Channel Indicator Upper Line is among the 2 studies for R2. S1 leads in support with 9 models. Standing at a 150 day moving average, S2 sees 5 confirmations, and S3 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other studies.
I’m Kiays Khalil and you’ve been watching the Support and Resistance Level Report for Friday. We’ll be back on Monday with the next overview, so see you then.
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