You’re watching the Support and Resistance Level Report for Thursday. Here’s how our in-house model tests out this morning.
We start with traders’ favourite pair, the Euro/Dollar, which has R1 of 1 0710 and S1 of 1 0670.
R2 is a former 6 month low with 5 confirmations, and the lowest resistance line has found 2 matches. R3 counts a psychological level as its only model. Price Channel Indicator Lower Line is among the 3 studies for S1, and S3 is a 4 year low with 3 models. A psychological level is the only confirmation for S2.
The Cable is trading in the range limited by R1 of 1 2440 and S1 of 1 2410.
R2 is a psychological level with 7 models, and the lowest resistance line sees 5 confirmations. R3 is backed up by a 50 day moving average, Bollinger Upper Band and 3 other studies. The highest support line has found 10 models, and S2 is a 20 day moving average with 3 matches. S3 is backed up by Price Channel Indicator Lower Line and Bollinger Lower Band.
Dollar/Yen has the closest levels of 109 30 in resistance and 108 70 in support.
Price Channel Indicator Upper Line is among the 2 studies for R2, and R3 is a 6 month high with 2 confirmations. The lowest resistance line has found a single match. S2 is the most confirmed support line with 4 models, and S3 is a 20 day moving average with 3 studies. The highest support line has found 2 matches.
And Dollar/Swiss Franc has risen above parity, as it finds itself between R1 of 1 0050 and S1 of 1.
R1 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 2 other studies, whereas R3 is a 4 year high with 3 models. The second line sees a single confirmation. Standing at a 20 day moving average, S2 has found 9 matches. S1 is backed up by a major psychological level, a 6 month high and 5 other models, and S3 is a 100 day moving average with 4 studies.
I’m _____ and this was the Support and Resistance Level Report for Thursday. Stay with us throughout your trading day.
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