18.08.2016 – Support and Resistance by Dukascopy

By | August 18, 2016

Let’s find out where the Support and Resistance levels stand this Thursday morning.
Euro/Dollar has inched higher, and it now stands between R1 of 1 1320 and S1 of 1 1280.
Price Channel Indicator Upper Line is among the 4 models for R1, whereas R3 is a psychological level with 2 studies. The second line sees a single confirmation. Standing at a 150 day moving average, S3 is well confirmed with 11 models. The highest support line has found 7 matches, and S2 is a 100 day moving average with 3 studies.
Next up is the Cable, which has the closest levels of 1 3070 in resistance and 1 3010 in support.
R1 is the most confirmed resistance line with 5 studies. R2 is a 20 day moving average with 3 models, and Bollinger Upper Band is the only model for R3. Standing near a psychological level, S1 sees 7 confirmations, and S3 is a 4 year low with 6 models. S2 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other studies.
Dollar/Yen has slipped below a major psychological level, as it has R1 of 100 and S1 of 99 50.
R2 leads in resistance with 11 models, and the other two lines have found 3 matches each, including a very important psychological level for R1 and a 20 day moving average for R3. Standing at a 2 year low, S2 sees 5 confirmations, and S3 is another psychological level with 2 models. Price Channel Indicator Lower Line is the only match for S1.
And Dollar/Swiss Franc finds itself below R1 of 0 9630 and above S1 of 0 96.
The lowest resistance line has found 9 matches. R3 counts a 50 day moving average among its 8 models, and R2 is a 100 day moving average with 7 studies. S1 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and 3 other studies, whereas the lower two support lines see 2 confirmations each, including a psychological level for S2 and a 6 month low for S3.
I’m Sam Meredith and that’s how our in-house model tests out today. Check back in tomorrow for this week’s last overview. Goodbye for now.

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