Good morning traders, start off your day with the Dukascopy Support and Resistance Level Report.
Euro/Dollar has gained some ground and now has R1 of 1 1210 and S1 of 1 1170.
R1 is a 150 day moving average with 8 matches, whereas the other two resistance lines see 2 confirmations each, including Bollinger Upper Band for R2 and Price Channel Indicator Upper Line for R3. Standing at a 50 day moving average, S1 is well confirmed with 11 models. S2 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and 9 other studies, and a psychological level is the only match for S3.
The Cable is up as well, and it stands between R1 of 1 3070 and S1 of 1 3030.
The highest resistance line has found 7 matches, including a 20 day moving average, and R2 is a 50 day moving average with 2 studies. R1 sees a single confirmation. Standing at a psychological level, S2 leads in support with 8 studies. S3 is confirmed by Price Channel Indicator Lower Line, Bollinger Lower Band and 5 other models, and the highest support line has found 5 matches.
Dollar/Yen has seen a decline, which leaves it below R1 of 100 70 and above S1 of 100.
Standing at a 50 day moving average, R2 sees 6 confirmations, and the lowest resistance line has found 3 matches. R3 is backed up by Price Channel Indicator Upper Line and a 100 day moving average. Standing at a 2 year low, S2 sees 5 confirmations. S1 is supported by a psychological level, Price Channel Indicator Lower Line and 2 other studies, and a psychological level is the only match for S3.
And Dollar/Swiss Franc has the closest levels of 0 9750 in resistance and 0 9720 in support.
R1 is a 150 day moving average with 11 models, and Bollinger Upper Band is among the 2 studies for R2. Standing at a major psychological level, R3 has found 2 matches. S1 leads in support with 10 confirmations, and the other two lines have found a single match each, namely, Bollinger Lower Band for S2 and Price Channel Indicator Lower Line for S3.
I’m Sam Meredith and that’s how our in-house model tests out this Thursday morning. Stay with us to follow the latest developments in the forex markets.
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