Good morning traders, you’re watching the Support and Resistance Level Report for Wednesday.
Euro/Dollar is trading in the range limited by R1 of 1 0640 and S1 of 1 0610.
R1 is the most confirmed resistance line with 11 studies. Standing at a former 6 month low, R2 has found 4 matches, and R3 is a 20 day moving average with 4 models. S1 leads in support with 12 models, and Price Channel Indicator Lower Line is among the 3 studies for S2. S3 is backed up by Bollinger Lower Band and a 12 month low.
The Cable has the closest levels of 1 2430 in resistance and 1 24 in support.
The lowest resistance line has found 9 matches, and R2 is a 50 day moving average with 5 confirmations. A 100 day moving average is the only model for R3. Standing near a 20 day moving average, S1 sees 8 confirmations, and S3 is a 4 year low with 6 studies. S2 counts Bollinger Lower Band as its only match.
Dollar/Yen stands below R1 of 111 10 and above S1 of 110 80.
R1 leads in resistance with 11 studies. R2 is supported by Price Channel Indicator Upper Line, a 6 month high and 4 other models, and Bollinger Upper Band is among the 3 matches for R3. The highest support line sees 5 confirmations, and S3 is a 20 day moving average with 3 models. Standing at a psychological level, S2 has found a single match.
And Dollar/Swiss Franc finds itself between R1 of 1 0120 and S1 of 1 0090.
R1 is well confirmed with 15 models, including Price Channel Indicator Upper Line, and R3 is a 4 year high with 3 matches. Bollinger Upper Band is among the 2 studies for R2. S1 is the most confirmed support line with 16 models. S2 is backed up by a 6 month high, a psychological level and 7 other studies, and S3 is a 20 day moving average with 2 matches.
I’m ____ and that’s how our in-house model tests out this morning. Stay with us throughout your trading day.
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