It’s a new trading week, and the Dukascopy TV team is back with another Support and Resistance Level Report. Here’s how our in-house model tests out.
Euro/Dollar stands just slightly below R1 of 1 1250 and above S1 of 1 12.
R1 is a 20 day moving average and it has a total of 11 confirmations. R2 follows with 4 matches, including a Bollinger upper band and a price channel indicator upper line. R3 posts just 2 confirmations. S2 is backed up by a 50 day moving average and 10 more models. S1 has found 8 matches and a 150 day moving average is one of them. S3 is near price channel indicator lower line, Bollinger lower band and 3 more models.
Next up is the Cable, which is trading in the range limited by R1 of 1 3330 and S1 of 1 3250.
R1 leads in resistance with 7 confirmations. The second line follows with 4 matches and it’s both a Bollinger upper band and a price channel indicator upper line. R3 is a psychological level and it has a total of 2 matches. S1 posts 3 confirmations. There are 2 alternative studies near both S2 and S3. S2 is a 50 day moving average and S3 is a psychological level.
Dollar/Yen has the closest levels of 102 60 in resistance and 102 30 in support.
The first two resistance levels have 5 confirmations each and R1 is backed up by a 50 day moving average. R3 has a Bollinger upper band and price channel indicator upper line among its 4 matches. S2 posts 4 matches, including a 20 day moving average. There are just 3 alternative studies near S1 and S3, which is a psychological level.
And last up is the Dollar/Swiss Franc, which currently stands between R1 of 0 9780 and S1 of 0 9750.
R1 is yesterday’s high and it has a total of 4 confirmations. R2 and R3 both have 2 matches and the second line is confirmed by a price channel indicator upper line and Bollinger upper band. S2 is a 20 day moving average with a total of 7 confirmations. A 150 day moving average is one of the 5 matches for S1 and 4 alternative studies are near S3, which is both a price channel indicator lower line and a Bollinger lower band.
I’m Sam Meredith and you’ve been watching the Support and Resistance Level Report for Monday. Check back in tomorrow when the next report will be available. Goodbye.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#193661
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