It’s time for this week’s last Support and Resistance Level Report. Here’s a closer look at how our in-house model tests out this Friday.
Euro/Dollar is trading in the range limited by R1 of 1 1040 and S1 of 1 10.
R1 and R2 both have 3 confirmations. The first line is a Bollinger lower band and R2 is a 100 day moving average. R3 posts 2 matches and a price channel indicator upper line is among them. S1 leads in support with 6 confirmations, including a psychological level and a price channel indicator lower line. 6 month low is one of the 2 matches for S2 and S3 has found a single match.
The Cable has been bouncing between R1 of 1 2270 and S1 of 1 2140.
R3 is near a 20 day moving average and 2 more models. R2 is a psychological level with a total of 2 confirmations and R1 has a single match. A Bollinger lower band is one of the 4 matches for S1. S2 and S3 both have 2 confirmations. The second line is a psychological level and S3 is a price channel indicator lower line.
Next up is the Dollar/Yen, which stands between R1 of 104 60 and S1 of 103 60.
R1 leads in resistance with 4 confirmations and it’s both a price channel indicator upper line and a Bollinger upper band. R2 is a psychological level and R3 is a 150 day moving average. S1 has found 8 matches. S2 posts 3 confirmations, including a 100 day moving average and there are 2 alternative studies near S3, which is a 50 day moving average.
And Dollar/Swiss Franc is moving towards R1 of 0 99 and away from S1 of 0 9850.
A Bollinger upper band and a price channel indicator upper line both are among the 10 confirmations for R1. R2 and R3 have 4 matches each and the highest line is a psychological level. S2 has a 20 day moving average among its 6 confirmations. S1 and S3 have 5 matches each and the lowest level is a 150 day moving average.
I’m Celeste Skinner and that’s all for Friday’s Support and Resistance Level Report. We’ll be back on Monday with the next report, so see you then.
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