It’s a new trading week, and the Dukascopy TV team is back with another Support and Resistance Level Report.
Euro/Dollar saw a drop on Friday, and it now has R1 of 1 0990 and S1 of 1 0960.
Standing at a 20 day moving average, R2 sees 9 confirmations, and R1 counts a psychological level among its 5 matches. R3 is backed up by Bollinger Upper Band, a 150 day moving average and another model. S2 counts Price Channel Indicator Lower Line among its 5 studies, and the other two support lines have found 2 matches each, including a 6 month low for S3.
The Cable is down as well, and it stands between R1 of 1 3170 and S1 of 1 3120.
R2 is the most confirmed resistance line with 5 models. R1 counts a 20 day moving average among its 4 studies, and R3 is backed up by Bollinger Upper Band and a psychological level. Standing at a former 4 year low, S1 has found 8 matches. S2 counts a psychological level among its 2 models, and Bollinger Lower Band is the only study for S3.
Dollar/Yen is trading in the range limited by R1 of 106 30 and S1 of 106.
The lowest resistance line has found 4 matches. R2 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band and another model, and R3 is a 100 day moving average with 2 studies. Standing at a 50 day moving average, S1 is well confirmed with 14 models, and S3 is a 20 day moving average with 2 matches. S2 is a psychological level with a single study.
And Dollar/Swiss Franc finds itself below R1 of 0 99 and above S1 of 0 9870.
R1 is confirmed by Bollinger Upper Band, Price Channel Indicator Upper Line and 6 other studies. The second line has found 4 matches, and R3 is a major psychological level with 3 models. S2 is well supported by 13 studies, including a 150 day moving average, and the highest support line sees 7 confirmations. Bollinger Lower Band is among the 2 models for S3.
I’m Celeste Skinner and that’s how our in-house model tests out today. Stay with us to track the latest developments in the forex markets. Goodbye.
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