08.11.2016 – Support and Resistance by Dukascopy

By | November 8, 2016

It’s the Election Day in the United States, and it could bring plenty of volatility. Let’s see where the support and resistance levels stand.
Euro/Dollar has actually inched lower, and it now stands between R1 of 1 1060 and S1 of 1 1010.
R2 is confirmed by Bollinger Upper Band, a 100 day moving average and 3 other studies, whereas the lowest resistance line has found 3 matches. R3 is a 12 month high with 2 models. S2 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band, a 6 month low and 3 other studies, and S1 counts a psychological level among its 4 models. S3 is a 12 month low with a single confirmation.
The Cable is down as well, trading in the range limited by R1 of 1 2450 and S1 of 1 2380.
Bollinger Upper Band is among the 2 studies for R1, and R2 is Price Channel Indicator Upper Line with 2 models. A 100 day moving average is the only match for R3. Standing at a 4 month low, S3 sees 6 confirmations. S2 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and another model, and the highest support line has found 2 matches.
Dollar/Yen has the closest levels of 104 50 in resistance and 104 10 in support.
R2 counts Bollinger Upper Band among its 7 models. The lowest resistance line sees 6 confirmations, and a psychological level is the only study for R3. Standing near a 20 day moving average, S1 has found 4 matches, while the lower two support lines are backed up by 3 studies each, including Price Channel Indicator Lower Line for S2 and a 2 year low for S3.
And Dollar/Swiss Franc finds itself below R1 of 0 9760 and above S1 of 0 9710.
R1 is a 150 day moving average with 7 studies. R3 is confirmed by Price Channel Indicator Upper Line, a 6 month high, a psychological level and 3 other models, and R2 counts a 50 day moving average among its 3 matches. Bollinger Lower Band is among the 7 studies for S1, and S2 is Price Channel Indicator Lower Line with 4 models. Standing at a 12 month low, S3 sees 2 confirmations.
I’m Celeste Skinner and that’s how our in-house model tests out this Tuesday. Stay tuned throughout the day for our ongoing coverage.

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