02.11.2016 – Support and Resistance by Dukascopy

By | November 2, 2016

Good morning, traders, let’s find out where the Support and Resistance levels stand this Wednesday morning.
Euro/Dollar is on the rise, and it stands between R1 of 1 11 and S1 of 1 1030.
Standing near a 100 day moving average, R2 sees 4 confirmations, whereas the other two resistance lines have found 2 matches each, including Price Channel Indicator Upper Line for R3. S3 is backed up by Price Channel Indicator Lower Line, a 6 month low and 5 other models. S2 has found 5 matches, including a psychological level and a 20 day moving average, and the highest support line sees a single confirmation.
Next up is the Cable, which is trading in the range limited by R1 of 1 2270 and S1 of 1 2230.
R1 counts a 20 day moving average among its 5 models, and R2 is a psychological level with 2 matches. A 50 day moving average is the only study for R3. S1 is the most confirmed support line with 13 models. The second line sees 6 matches, and S3 is Bollinger Lower Band with 2 studies.
Dollar/Yen has been moving South, and it currently has R1 of 103 90 and S1 of 103 50.
Standing near a 20 day moving average, R1 sees 8 confirmations. R2 is a 150 day moving average with 7 models, and R3 counts Price Channel Indicator Upper Line among its 6 matches. S2 is supported by Bollinger Lower Band, a 100 day moving average and 2 other studies, and Price Channel Indicator Lower Line is among the 2 matches for S3. The highest support line sees a single confirmation.
And Dollar/Swiss Franc is down as well, trading below R1 of 0 9750 and above S1 of 0 97.
R3 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band, a 6 month high, a psychological level and, on top of that, 5 other studies. R2 is a 20 day moving average with 7 models, and R1 has found 2 matches, namely, a 150 day moving average and Bollinger Lower Band. Price Channel Indicator Lower Line is among the 3 studies for S1, and S3 is a 12 month low with 2 confirmations. S2 counts a psychological level as its only match.
I’m Celeste Skinner and that’s how our in-house model tests out today, but the trading day is just getting started, so stay with us.

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