Good morning traders, you’re watching this week’s first Support and Resistance Level Report.
Euro/Dollar is trading in the range limited by R1 of 1 1090 and S1 of 1 1060.
Standing near a 100 day moving average, R2 sees 8 confirmations, whereas the lowest resistance line has found 5 matches. Price Channel Indicator Upper Line is among the 2 studies for R3. S2 is backed up by a psychological level, a 20 day moving average and 4 other models, whereas the other two support lines have found 4 matches each, including Price Channel Indicator Lower Line and a 6 month low for S3.
The Cable has the closest levels of 1 2450 in resistance and 1 24 in support.
Bollinger Upper Band is among the 4 models for R1. R3 is backed up by Price Channel Indicator Upper Line, a 50 day moving average and another study, and R2 is a psychological level with 2 matches. S3 is supported by Price Channel Indicator Lower Line, a 4 year low and 5 other studies. S2 is a 20 day moving average with 4 matches, and the highest support line sees a single confirmation.
Dollar/Yen stands below R1 of 104 70 and above S1 of 104 30.
R2 is backed up by Bollinger Upper Band, a psychological level and 4 other studies, and the other two resistance lines have found 4 matches each, including a 150 day moving average for R1 and Price Channel Indicator Upper Line for R3. S2 leads in support with 9 studies, including Bollinger Lower Band and a 100 day moving average, and the highest line sees 6 confirmations. Price Channel Indicator Lower Line is among the 3 studies for S3.
And Dollar/Swiss Franc finds itself between R1 of 0 9790 and S1 of 0 9750.
R3 leads in resistance with 6 models, including Price Channel Indicator Upper Line, a 6 month high and a major psychological level. R2 is a 20 day moving average with 5 matches, and R1 counts a 50 day moving average among its 2 studies. Standing near a 150 day moving average, S1 sees 6 confirmations. Price Channel Indicator Lower Line is among the 3 studies for S2, and S3 is a psychological level with 2 matches.
I’m Jessica Walker and that’s how our in-house model tests out this Monday morning. The trading week is just getting started, so stay with us.
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