The Dukascopy TV team brings you another edition of the Support and Resistance Level Report. Let’s see how our in-house model tests out.
The Euro/Dollar has seen little movement this morning, trading in the range limited by R1 of 1 1220 and S1 of 1 1180.
A 150 day moving average is one of the 28 confirmations for R1. R2 follows with 4 matches and it’s a Bollinger upper band. R3 has a price channel indicator upper line among its 3 matches. S1 leads in support with 6 matches, including a 100 day moving average. S2 and S3 both have 4 matches. The second line is near a Bollinger lower band and S3 is a price channel indicator lower line.
The Cable recently declined South of R1 of 1 2720 and it’s now above S1 of 1 2690.
R3 is a psychological level with a total of 8 confirmations. R1 posts 5 matches and it’s a Bollinger lower band. Second resistance level has found 3 matches. S1 has a price channel indicator lower line among its 3 confirmations. S3 is a psychological level with a total of 2 matches and only a single model is near S2.
Dollar/Yen has been moving higher, and it has the closest levels of 103 70 in resistance and 103 40 in support.
R1 is backed up by a 100 day moving average, price channel indicator upper line and yesterday’s high. R2 and R3 both have 2 confirmations. The second line is a psychological level and R3 is a 150 day moving average. S3 is the most confirmed support level and it’s a 50 day moving average. S1 follows with 3 matches, including a Bollinger lower band. Only two alternative studies are near S2.
And the last pair for this report is the Dollar/Swiss Franc, which stands between R1 of 0 9820 and S1 of 0 9750.
R1 leads in resistance with 5 confirmations and it’s both a Bollinger upper band and a price channel indicator upper line. R2 and R3 both have 2 matches and the highest line is a psychological level. S2 has found 19 confirmations and it’s a 150 day moving average. S3 posts 7 matches, including a Bollinger lower band and a price channel indicator lower line. A 100 day moving average is one of the 5 confirmations for S1.
I’m Sam Meredith and that’s all for Thursday’s Support and Resistance Level Report, but we’ll be back tomorrow with the next overview of key price levels. See you then.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#195676
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