Hello, traders, this is the Dukascopy Support and Resistance Level Report and here’s what our in-house model says this Tuesday morning.
Euro/Dollar has regained some ground and now stands between R1 of 1 1030 and S1 of 1 10.
The lowest resistance line has found 5 matches, whereas R2 is a 20 day moving average with 3 confirmations. Price Channel Indicator Upper Line is the only model for R3. Standing at a psychological level, S1 sees 7 confirmations. S2 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and 4 other models, and S3 is a 6 month low with 2 studies.
The Cable has inched up as well, and it currently has R1 of 1 2250 and S1 of 1 2220.
R2 leads in resistance with 4 studies, and the lowest line has found 2 matches. R3 is a psychological level with a single confirmation. S1 leads in support with 6 studies, and the second line has found 4 matches. S3 is confirmed by Bollinger Lower Band, a psychological level and another model.
Dollar/Yen has the closest levels of 104 10 in resistance and 103 80 in support.
R1 is the most confirmed resistance line with 7 models. Price Channel Indicator Upper Line is among the 3 studies for R2, and R3 is a 150 day moving average with 3 matches. The highest support line sees 9 confirmations, and S3 is a 20 day moving average with 2 matches. A 100 day moving average is the only model for S2.
And Dollar/Swiss Franc is trading in the range limited by R1 of 0 99 and S1 of 0 9870.
R1 is well confirmed with no less than 14 models, including Price Channel Indicator Upper Line, whereas the other two lines have found 3 matches each, including Bollinger Upper Band for R2 and a psychological level for R3. The highest support line sees 9 confirmations, and S2 is a 20 day moving average with 5 matches. S3 counts a 100 day moving average among its 5 models.
I’m Celeste Skinner and you’ve been watching the Support and Resistance Level Report for Tuesday. Stay with Dukascopy TV to track the latest developments in the currency markets.
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