You’re watching another Support and Resistance Level Report. Here’s how our in-house model tests out this Thursday morning.
Euro/Dollar has been moving in waves, and it now has R1 of 1 1120 and S1 of 1 1090.
The lowest resistance line has found 9 matches, and R2 is a 20 day moving average with 7 models. Standing near a 100 day moving average, R3 sees 3 confirmations. The highest support line has found 6 matches, and S2 is a psychological level with 3 models. Bollinger Lower Band is among the 2 studies for S3.
The Cable currently has the closest levels of 1 3230 in resistance and 1 3120 in support.
R2 is a psychological level with 2 models, whereas the other two resistance lines have found a single match each, including a 20 day moving average for R3. Standing at a former 4 year low, S1 sees 6 confirmations, and S2 is a psychological level with 5 matches. S3 counts Price Channel Indicator Lower Line among its 3 studies.
Dollar/Yen has just spiked, and it now stands below R1 of 105 80 and above S1 of 105.
Price Channel Indicator Upper Line is among the 2 studies for R2. The upper and lower resistance lines both see a single confirmation, namely, Bollinger Upper Band for R1 and a 100 day moving average for R3. S3 is backed up by Price Channel Indicator Lower Line, a 2 year low and 4 other models. S1 is a psychological level with 2 studies, and S2 counts a 20 day moving average as its only match.
And Dollar/Swiss Franc finds itself between R1 of 0 9880 and S1 of 0 9830.
R1 counts Price Channel Indicator Upper Line among its 6 studies, and R3 is a psychological level with 3 models. Bollinger Upper Band is the only match for R2. Standing at a 100 day moving average, S2 sees 10 confirmations, and S1 counts a 150 day moving average among its 9 studies. S3 is Bollinger Lower Band with 2 models.
That’s all for Thursday’s Support and Resistance Level Report. I’m Celeste Skinner and we’ll be tracking the latest developments in the currency markets throughout the day, so stay with Dukascopy TV.
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