04.11.2016 – Support and Resistance by Dukascopy

By | November 4, 2016

It’s time for this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out this Friday morning.
First up is the Euro/Dollar, and it stands between R1 of 1 1110 and S1 of 1 1080.
Standing near a 50 day moving average, R1 sees 6 confirmations. Price Channel Indicator Upper Line is among the 3 models for R3, and R2 is a 150 day moving average with 2 matches. S3 is backed up by Price Channel Indicator Lower Line, a 6 month low and 4 other models, whereas the upper support line has found 4 matches. S2 sees 4 confirmations, including a 20 day moving average and a psychological level.
The Cable is trading in the range limited by R1 of 1 2490 and S1 of 1 2420.
R1 counts a psychological level among its 2 matches, and the other two resistance lines see a single confirmation each, namely, Price Channel Indicator Upper Line for R2 and a psychological level for R3. Standing at a 20 day moving average, S2 sees 3 confirmations, and the highest support line has found 2 matches. Bollinger Lower Band is the only model for S3.
Dollar/Yen has the closest levels of 103 40 in resistance and 103 in support.
R1 is the most confirmed resistance line with 6 models, and R3 is a 150 day moving average with 4 studies. R2 counts a 20 day moving average among its 3 confirmations. Price Channel Indicator Lower Line is among the 4 studies for S2, and S3 is a major psychological level with 3 matches. S1 counts a 50 day moving average among its 2 models.
And Dollar/Swiss Franc has R1 of 0 9770 and S1 of 0 9740.
R3 leads in resistance with 10 models, including Price Channel Indicator Upper Line, Bollinger Upper Band, a 6 month high and a psychological level. R2 is a 20 day moving average with 7 studies, and R1 counts a 150 day moving average among its 6 matches. The upper two support lines see 4 confirmations each, including Bollinger Lower Band for S1 and Price Channel Indicator Lower Line for S2, whereas S3 has found 4 matches.
You’ve been watching the Support and Resistance Level Report with me, Celeste Skinner. Stay with us throughout your trading day.

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