Hello, you’re watching the Support and Resistance Level Report for Tuesday. Let’s see how our in-house model tests out.
The first pair for this report is the Euro/Dollar, which is trading in the range limited by R1 of 1 1240 and S1 of 1 12.
R1 is confirmed by a 20 day moving average and 13 more models. R2 follows with 4 matches and it’s both a Bollinger upper band and a price channel indicator upper line. R3 is a psychological level. A 50 day moving average is one of the 10 matches for S2. S1 has a 150 day moving average among its 9 confirmations and 4 alternative studies are near S3, which is both a Bollinger lower band and a price channel indicator lower line.
The Cable has seen a rise, which puts it just slightly below R1 of 1 3330 and above S1 of 1 3280.
First line leads in resistance with 6 confirmations. R2 and R3 have 3 and 2 matches respectively. The second line is a Bollinger upper band and R3 is a psychological level. A 10 day moving average is one of the 10 confirmations for S1. S2 and S3 both have 3 matches. The second line is a 50 day moving average and S3 is both a psychological level and a Bollinger lower band.
Dollar/Yen has R1 of 102 and S1 of 101 60.
The first two resistance levels both have 5 confirmations and the second line is a 50 day moving average. R3 posts 3 matches, including a Bollinger upper band and a price channel indicator upper line. S1 is backed up by a 20 day moving average and 3 more models. Price channel indicator lower line is one of the 3 matches for S3 and 2 alternative studies are near S2, which is a psychological level.
And last up is the Dollar/Swiss Franc, which stands between R1 of 0 9750 and S1 of 0 9710.
R1 leads in resistance with 9 confirmations and it’s a 150 day moving average. R2 follows with 3 matches, including a price channel indicator upper line and a Bollinger upper band. R3 is a psychological level with a total of 2 matches. S1 is confirmed by a 20 day moving average and 7 more models. S2 follows with 4 matches, including a price channel indicator lower line and a Bollinger lower band. S3 is a psychological level and it has a total of 2 matches.
I’m Sam Meredith and that concludes Tuesday’s Support and Resistance Level Report. Check back in tomorrow when the next overview will be available. Goodbye.
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