You’re watching the Support and Resistance Level Report for Thursday. Here’s how our in-house model tests out today.
Euro/Dollar has seen a decline, and it now stands between R1 of 1 1160 and S1 of 1 1120.
Standing at a 150 day moving average, R1 sees 8 confirmations, and Bollinger Upper Band is among the 4 studies for R2. R3 is backed up by Price Channel Indicator Upper Line, a 100 day moving average and another model. S3 is well confirmed with 11 models, including a psychological level, and S2 counts a 20 day moving average among its 5 studies. The highest support line has found 3 matches.
The Cable is trading in the range limited by R1 of 1 3340 and S1 of 1 33.
The lowest resistance line has found 6 matches, and R2 is Bollinger Upper Band with 2 models. Price Channel Indicator Upper Line is among the 2 studies for R3. S3 is backed up by Price Channel Indicator Lower Line, a 4 year low and 5 other models. S2 is a 20 day moving average with 5 matches, and the highest support line sees 2 confirmations.
Dollar/Yen has been moving in waves, and it currently has R1 of 101 70 and S1 of 101 30.
R2 is the most confirmed resistance line with 5 models. R3 is a 20 day moving average with 3 studies, and the lowest line has found 2 matches. S2 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band, a psychological level and 3 other studies. S3 is a 2 year low with 5 matches, and the highest support line sees 3 confirmations.
And Dollar/Swiss Franc has inched higher, as it stands below R1 of 0 9740 and above S1 of 0 9710.
R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 4 other studies, and R1 counts a 100 day moving average among its 4 models. R2 is a 150 day moving average with 4 matches. Price Channel Indicator Lower Line is among the 5 studies for S2, and the other two support lines see 2 confirmations each, including a psychological level for S3.
So that’s how our in-house model tests out today. I’m Sam Meredith and we’ll be back tomorrow with the next report. See you then.
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