You’re watching the Support and Resistance Level Report for Tuesday. Here’s how our in-house model tests out today.
First up is the Euro/Dollar, which is trading in the range limited by R1 of 1 1340 and S1 of 1 13.
The lowest resistance line has found 5 matches. R2 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 2 other studies, and a psychological level is the only model for R3. Standing at a 50 day moving average, S1 sees 9 confirmations. S2 counts a 100 day moving average among its 6 studies, and S3 is supported by a 150 day moving average, Price Channel Indicator Lower Line and 3 other models.
The Cable has the closest levels of 1 4740 in resistance and 1 4640 in support.
The lower two resistance lines see 2 confirmations each, including Price Channel Indicator Upper Line for R1 and Bollinger Upper Band for R2, whereas R3 counts a psychological level as its only match. S2 is a 50 day moving average with 4 models. Bollinger Lower Band is among the 2 studies for S3, and the highest support line has found a single match.
Dollar/Yen has seen both ups and downs, and it now has R1 of 104 50 and S1 of 104 10.
Standing at a former 12 month low, R2 sees 5 confirmations. The lowest resistance line has found 3 matches, and a 50 day moving average is the only model for R3. The highest support line has found 5 matches, and Price Channel Indicator Lower Line is among the 3 models for S2. The lowest support line is a 2 year low with 2 matches.
And Dollar/Swiss Franc has mostly been trading between R1 of 0 9630 and S1 of 0 9580.
R1 is the most confirmed resistance line with 10 models. R3 is Price Channel Indicator Upper Line with 2 studies, and a 20 day moving average is the only match for R2. S1 counts Price Channel Indicator Lower Line among its 8 studies, and S3 is a 6 month low with 4 confirmations. S2 is a psychological level with 2 models.
I’m Celeste Skinner and this was the Support and Resistance Level Report for Tuesday. Stay with Dukascopy TV to follow the latest movements in the currency markets.
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