You’re watching the Support and Resistance Level Report for Wednesday. Here’s how our in-house model tests out today.
Euro/Dollar has spent most of the last 24 hours below R1 of 1 1230 and above S1 of 1 1190.
Standing near a 50 day moving average, R2 sees 9 confirmations. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 4 other studies, and R1 counts a 100 day moving average among its 4 models. S2 leads in support with 4 studies, including Price Channel Indicator Lower Line and a 150 day moving average, and Bollinger Lower Band is among the 2 models for S3. The highest support line sees a single confirmation.
Pound/Dollar currently has the closest levels of 1 4150 in resistance and 1 4090 in support.
The lowest resistance line has found 4 models, and R3 is a 50 day moving average with 3 matches. A 100 day moving average is the only model for R2. Standing at a 4 year low, S3 sees 4 confirmations, and the other two support lines have found 2 matches each, including Price Channel Indicator Lower Line for S1 and a psychological level for S2.
Dollar/Yen has mostly been trading sideways, as it stands between R1 of 106 30 and S1 of 105 60.
R2 is the most confirmed resistance line with 5 models, and the lowest line has found 4 matches. R3 counts a 50 day moving average among its 3 studies. S1 is backed up by Price Channel Indicator Lower Line, a 12 month low and 6 other models, and S2 is a psychological level with 2 matches. A 2 year low is the only confirmation for S3.
And last up is the Dollar/Swiss Franc, which has R1 of 0 9670 and S1 of 0 9630.
R1 leads in resistance with 5 studies, and R2 is a 50 day moving average with 4 models. Standing at a 100 day moving average, R3 sees 3 confirmations. S1 leads in support with 10 studies, and Price Channel Indicator Lower Line is among the 6 studies for S2. Bollinger Lower Band is among the 2 models for S3.
I’m Lucy Palfreeman and that’s all for Wednesday’s Support and Resistance Level Report. Stay with Dukascopy TV throughout your trading day. See you soon.
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