You’re watching the Support and Resistance Level Report for Thursday. Here’s how our in-house model tests out today.
Euro/Dollar has seen a decline, and it now is trading in the range limited by R1 of 1 1270 and S1 of 1 1240.
The lowest resistance line has found 10 matches, and R2 is a 50 day moving average with 7 models. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and another study. Standing near a 100 day moving average, S1 sees 6 confirmations. S2 is supported by a 150 day moving average, Price Channel Indicator Lower Line and 3 other models, and Bollinger Lower Band is the only match for S3.
The Cable has seen its ups and downs, and it now has R1 of 1 4690 and S1 of 1 4620.
R2 is backed up by Price Channel Indicator Upper Line, a 3 month high and 2 other models. The lowest resistance line has found 3 matches, and R3 is a psychological level with 2 studies. Standing at a 20 day moving average, S3 sees 3 confirmations, and the highest support line has found 2 matches. A psychological level is the only level for S2.
Dollar/Yen has also been moving in waves, and it stands below R1 of 105 and above S1 of 104 30.
Standing at a former 12 month low, R2 sees 6 confirmations, and R1 is a psychological level with 2 matches. A 20 day moving average is the only model for R3. The upper two support lines have found 3 matches each, including Price Channel Indicator Lower Line for S2, whereas Bollinger Lower Band is among the 2 models for S3.
And the last pair for this report is the Dollar/Swiss Franc, which stands between R1 of 0 9630 and S1 of 0 96.
R1 is the most confirmed resistance line with 12 models, and R2 is a 50 day moving average with 3 confirmations. Price Channel Indicator Upper Line is among the 2 studies for R3. The highest support line sees 5 confirmations. Price Channel Indicator Lower Line is among the 4 models for S2, and S3 is Bollinger Lower Band with 2 matches.
I’m Lucy Palfreeman and this was the Support and Resistance Level Report for Thursday. Stay with us to stay on top of the latest movements in currency markets. Bye for now.
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