22.08.2016 – Support and Resistance by Dukascopy

By | August 22, 2016

It’s a new trading week, and the Dukascopy TV team is back with another Support and Resistance Level Report.
Euro/Dollar has opened lower, as it has R1 of 1 1290 and S1 of 1 1260.
The lowest resistance line has found 6 matches, and Bollinger Upper Band is among the 5 studies for R2. A psychological level is the only model for R3. Standing at a 150 day moving average, S2 sees 10 confirmations, and S3 counts a 50 day moving average among its 8 models. The highest support line has found 6 matches.
The Cable is trading in the range limited by R1 of 1 3060 and S1 of 1 3010.
R3 counts Bollinger Upper Band among its 3 models, and the other two resistance lines have found 2 matches each, including a 20 day moving average for R2. S1 leads in support with 8 models, including a psychological level, and S3 is a former 4 year low with 7 studies. S2 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and 3 other technicals.
Dollar/Yen is up this morning, and it has the closest levels of 101 in resistance and 100 50 in support.
R1 is the most confirmed resistance line with 8 studies. R2 is a 20 day moving average with 6 models, and a 50 day moving average is the only match for R3. Standing at a very important psychological level, S2 sees 10 confirmations, whereas the upper and lower support lines have found 3 matches each. S3 is Price Channel Indicator Lower Line.
And the last pair for this report is the Dollar/Swiss Franc, which stands below R1 of 0 9690 and above S1 of 0 9630.
Standing near a 100 day moving average, R2 sees 10 confirmations, and R3 counts a 150 day moving average among its 4 models. The lowest resistance line has found 2 matches. S1 leads in support with 10 studies. S2 is confirmed by Price Channel Indicator Lower Line, Bollinger Lower Band and 3 other models, and S3 is a psychological level with 2 matches.
I’m Sam Meredith and that’s how our in-house model tests out this Monday. Stay with Dukascopy TV to track the latest market developments. Goodbye for now.

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