The Dukascopy TV team is back with another Support and Resistance Level Report. Here’s how our in-house model tests out this Monday.
The first pair for this report is the Euro/Dollar, which has R1 of 1 1170 and S1 of 1 1140.
R1 is backed up by a 150 day moving average and 7 more models. R2 posts 7 matches, including a 100 day moving average, a price channel indicator upper line and a Bollinger upper band. There’s just a single match for R3. A 50 day moving average is one of the 14 confirmations for S1. S2 follows with 7 matches and it’s a 20 day moving average. S3 is a psychological level.
Next up is the Cable, which finds itself below R1 of 1 30 and above S1 of 1 29.
R1 is a psychological level and it has a total of 7 matches. R2 and R3 have 3 and 2 confirmations respectively and the highest level is a 20 day moving average. S2 is a 4 year low with a total of 6 confirmations. 4 alternative studies are near S1, which is both a price channel indicator lower line and a Bollinger lower band. S3 is a psychological level.
Dollar/Yen has the closest levels of 101 60 in resistance and 100 70 in support.
A 10 day moving average is among the 4 confirmations for R1. R2 and R3 both have 2 matches and the highest line is a 20 day moving average. S1 and S2 have 4 matches each. The first line is a price channel indicator lower line and S2 is a psychological level. A Bollinger lower band is one of the 2 matches for S3.
And last up is the Dollar/Swiss Franc, which stands between R1 of 0 98 and S1 of 0 9750.
A 150 day moving average is one of the 7 matches for R1. R2 posts 4 matches, including a Bollinger upper band and a price channel indicator upper line. R3 is a psychological level with a total of 2 matches. S1 leads in support with 12 confirmations and a 50 day moving average is one of them. S2 is confirmed by a 100 day moving average and 7 more models. 4 alternative studies are near S3, which is a Bollinger lower band.
I’m Sam Meredith and that’s all for Monday’s Support and Resistance Level Report. Check back tomorrow when the next report will be available. Goodbye.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#191448
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