The Dukascopy TV team is back with another Support and Resistance Level Report. Here’s how our in-house model tests out on this first day of the trading week.
First up is the Euro/Dollar, which stands below R1 of 1 0640 and above S1 of 1 0590.
R3 is a 20 day moving average with a total of 5 confirmations. R1 and R2 both have 2 matches and the second line is backed up by a 10 day moving average. S1 and S2 have 4 confirmations each. The first line is a Bollinger lower band and S2 is a price channel indicator lower line. S3 is a psychological level.
The Cable has the closest levels of 1 2360 in resistance and 1 23 in support.
R2 and R3 both have 5 confirmations and the highest line is a psychological level. R1 has found 2 matches, including a 20 day moving average.S1 and S3 both have 2 matches and the lowest line is a price channel indicator lower line. Only Bollinger lower band is near S2.
Dollar/Yen is trading in the range limited by R1 of 111 40 and S1 of 111.
R1 leads in resistance with 3 confirmations. R2 and R3 both have only 1 match and the highest line is a psychological level. S1 has found 5 matches, including a price channel indicator upper line. S3 posts 4 confirmations and 2 alternative studies are near S2, which is a psychological level.
And the last pair for this report is the Dollar/Swiss Franc, which has R1 of 1 0120 and S1 of 1 0060.
Both price channel indicator upper line and a Bollinger upper band are among the 5 confirmations for R1. R3 is a 4 year high with a total of 4 confirmations. There’s just a single match for R2. A psychological level is one of the 9 confirmations for S2. S3 posts 3 matches and 2 alternative studies are near S1.
I’m __________ and that’s all for Monday’s Support and Resistance Level Report. Check back in tomorrow when the next report will be available. Goodbye.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#199386
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