09.11.2016 – Support and Resistance by Dukascopy

By | November 9, 2016

Well, what do you know, it’s been quite an eventful night in the United States, so let’s take a look at the rate movements and support and resistance levels.
It comes as little surpise that the Buck is down across the board, and Euro/Dollar currently has R1 of 1 1370 and S1 of 1 1240.
R2 is a 12 month high with 2 confirmations, and R1 counts a 3 month high as its only match. A psychological level is the only model for R3. Standing at a 50 day moving average, S2 sees 8 confirmations. S3 is backed up by Price Channel Indicator Lower Line, a 6 month low, Bollinger Lower Band and 3 other studies, and the highest line sees a single confirmation.
The Cable is up as well, and it stands between R1 of 1 2520 and S1 of 1 2470.
R1 leads in resistance with 4 models, and R2 counts Price Channel Indicator Upper Line among its 2 matches. A 50 day moving average is the only confirmation for R3. The lowest support line has found 6 matches, and S1 still counts what used to be Bollinger Upper Band among its 4 models. S2 is a 20 day moving average with 2 studies.
Dollar/Yen has seen a very drastic move, as it stands below R1 of 102 50 and above S1 of 101 20.
Price Channel Indicator Upper Line is among the 6 studies for R3, and R2 is a 150 day moving average with 5 models. The lowest resistance line has found 2 matches. Standing at a 2 year low, S3 sees 3 confirmations, and S2 is a major psychological level with 2 studies. The highest support line sees a single match.
And Dollar/Swiss Franc has dropped to R1 of 0 9660 and S1 of 0 9540.
R2 counts a 150 day moving average among its 9 models, and R3 is a 20 day moving average with 4 matches. The lowest resistance line sees 3 confirmations. The upper two support lines have found 2 matches each, including a 12 month low for S2, whereas a psychological level is the only technical for S3.
I’m Jessica Walker and this was the Support and Resistance Level Report for Wednesday. Do stay with us as there’s plenty of news to cover.

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