Hello traders, let’s see where the Support and Resistance Levels stand this Wednesday morning.
Euro/Dollar is up, and it now stands between R1 of 1 1280 and S1 of 1 1230.
The lowest resistance line has found 3 matches. R2 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line and another model, and R3 is a major psychological level with 2 studies. S2 is a 150 day moving average with 10 matches, and the other two lines have found 2 matches each, including a 20 day moving average for S1 and Bollinger Lower Band for S3.
The Cable has gained some ground as well, and it finds itself below R1 of 1 3440 and above S1 of 1 34.
Price Channel Indicator Upper Line is among the 3 studies for R1, and R2 is a psychological level with 2 models. Standing at a 100 day moving average, R3 sees 2 confirmations. S3 is a 20 day moving average with 6 studies, and the second line has found 5 matches. S1 sees 3 confirmations.
The Greenback has declined against the Yen, and the pair has R1 of 101 50 and S1 of 101 20.
Standing at a 20 day moving average, R1 has found 2 matches. R2 is a 50 day moving average with 2 models, and Bollinger Upper Band is among the 2 studies for R3. S2 is a major psychological level with 3 confirmations, and Price Channel Indicator Lower Line is among the 2 models for S3. The highest support line has found a single match.
And Dollar/Swiss Franc has the closest levels of 0 9710 in resistance and 0 9680 in support.
R2 is a 150 day moving average with 6 models. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 2 other studies, and R1 counts a 20 day moving average as its only match. S2 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and 2 other studies. The highest support line sees 3 confirmations, and S3 counts a psychological level as its only match.
I’m Sam Meredith and that’s how our in-house model tests out this morning. Stay with Dukascopy TV throughout your trading day.
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