You’re watching the Support and Resistance Level Report for Thursday. Here’s how our in-house model tests out today.
Euro/Dollar is currently trading in the range limited by R1 of 1 1120 and S1 of 1 1070.
Standing near a 100 day moving average, R1 sees 7 confirmations. R3 counts Price Channel Indicator Upper Line among its 3 studies, whereas R2 is backed up by Bollinger Upper Band and a 150 day moving average. S3 is supported by Price Channel Indicator Lower Line, a 6 month low and 5 other models. S2 has found 4 matches, including a psychological level and a 20 day moving average, and the highest support line sees a single confirmation.
The Cable has actually gained some ground, and it now stands between R1 of 1 2350 and S1 of 1 2290.
All three resistance lines have found exactly 2 matches each. In particular, R2 is Bollinger Upper Band, whereas the highest line is a psychological level. Standing at a 20 day moving average, S2 sees 10 confirmations, and Bollinger Lower Band is among the 2 models for S3. The highest support line has found a single match.
Dollar/Yen is trending ever lower, and it currently stands below R1 of 103 and above S1 of 102 60.
R2 is the most confirmed resistance line with 6 models, and Price Channel Indicator Upper Line is among the 5 studies for R3. The lowest resistance line has found 3 matches. Price Channel Indicator Lower Line is among the 2 studies for S2, and S3 is a very important psychological level with 2 matches. S1 sees a single confirmation.
And Dollar/Swiss Franc is down as well, as it has R1 of 0 9720 and S1 of 0 9690.
R3 is backed up by 9 studies, including Price Channel Indicator Upper Line, Bollinger Upper Band, a 6 month high and a psychological level. R2 is a 150 day moving average with 5 matches, and the lowest resistance line sees 4 confirmations. S1 counts Price Channel Indicator Lower Line among its 5 models, and S3 is a 12 month low with 2 matches. A psychological level is the only study for S2.
This was the Support and Resistance Level Report with me, Jessica Walker. Stay with us as there’s plenty of news coming up.
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