The Dukascopy TV team is back with this week’s first Support and Resistance Level Report.
Euro/Dollar is trading in the range limited by R1 of 1 0820 and S1 of 1 0780.
Standing at a 100 day moving average, R3 sees 6 confirmations, and the lowest resistance line has found 4 matches. R2 is a psychological level with 3 models. S1 leads in support with 3 models, and S3 is a 4 year low with 2 matches. S2 counts a 12 month low as its only confirmation.
The Cable has the closest levels of 1 2570 in resistance and 1 2540 in support.
R2 is backed up by Price Channel Indicator Upper Line, a 50 day moving average and 3 other studies, while Bollinger Upper Band is among the 3 matches for R1. R3 counts a 100 day moving average as its only match. S1 is the most confirmed support line with 3 models, and the other two lines have found 2 matches each, including a psychological level for S2 and a 20 day moving average for S3.
Dollar/Yen finds itself below R1 of 107 90 and above S1 of 107.
R2 counts a psychological level among its 2 models, and the other two resistance lines see a single confirmation each, including a 6 month high for R3. Standing at a 150 day moving average, S3 sees 5 confirmations, and the highest support line has found 4 matches. Bollinger Upper Band is among the 4 models for S2.
And Dollar/Swiss Franc stands between R1 of 0 9930 and S1 of 0 99.
R2 is backed up by Price Channel Indicator Upper Line, a major psychological level, a 6 month high and 3 other models, whereas the other two lines see 2 confirmations each, including Bollinger Upper Band for R3. S3 is a 150 day moving average with 8 models, and S2 is a 20 day moving average with 7 studies. The highest support line has found 4 matches.
I’m Celeste Skinner and that’s how our in-house model tests out this Monday morning. Stay with us throughout your trading day.
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