Good morning, traders, it’s time for this week’s last Support and Resistance Level Report.
The first pair is the Euro/Dollar, which has R1 of 1 0640 and S1 of 1 0560.
Standing at a 20 day moving average, R2 sees 4 confirmations, and R3 is a psychological level with 2 models. The lowest resistance line has found a single match. S2 counts a 4 year low among its 3 studies, whereas the other two support lines are backed up by a single model each.
The Cable is trading in the range limited by R1 of 1 2410 and S1 of 1 2360.
The lowest resistance line has found 6 matches, and R2 is a psychological level with 5 models. Price Channel Indicator Upper Line is among the 3 studies for R3. Standing at a 20 day moving average, S1 sees 3 confirmations. S3 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and another model, and the second line has found 2 matches.
Dollar/Yen is on the rise, and it stands between R1 of 110 90 and S1 of 110 30.
The upper two resistance lines have found 2 matches each, including a 6 month high for R2 and a psychological level for R3. The lowest line sees a single confirmation. What used to be Bollinger Upper Band still stands among the 3 studies for S2, and the highest support line has found 2 matches. S3 is a psychological level with 2 models.
And Dollar/Swiss Franc finds itself below R1 of 1 0120 and S1 of 1 0070.
R2 is a 4 year high with 4 studies, and the lowest resistance line has found 2 matches. R3 counts a psychological level as its only confirmation. S2 is well supported with 10 studies, including a major psychological level and a former 6 month high, while S3 is a 50 day moving average with 3 matches. The highest support line sees 2 confirmations.
I’m Jack Everitt and that’s how our in-house model tests out today. We’ll be back on Monday with the next overview, so see you then.
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