You’re watching the Support and Resistance Level Report for Friday. Here’s how our in-house model tests out this morning.
Euro/Dollar has the closest levels of 1 0590 in resistance and 1 0550 in support.
The lowest resistance line has found 5 matches. R2 is backed up by a 20 day moving average, a 6 month low and 3 other studies, and R3 sees 2 confirmations, namely, a 50 day moving average and a psychological level. S1 leads in support with 4 models, and S2 is a 4 year low with 3 matches. Bollinger Lower Band is among the 2 confirmations for S3.
The Cable is trading in the range limited by R1 of 1 2460 and S1 of 1 2420.
R1 leads in resistance with 7 studies. R2 is confirmed by a psychological level, a 50 day moving average and 4 other models, whereas Bollinger Upper Band is the only match for R3. Standing near a 20 day moving average, S1 sees 9 confirmations, and the other two support lines have found a single match each, that is, Bollinger Lower Band for S2 and Price Channel Indicator Lower Line for S3.
Dollar/Yen finds itself between R1 of 113 50 and S1 of 113 10.
Price Channel Indicator Upper Line is among the 3 models for R1, and R2 is Bollinger Upper Band with 2 matches. R3 counts a psychological level as its only confirmation. The second support line has found 8 matches, and S3 is a psychological level with 3 models. S1 sees a single confirmation.
And Dollar/Swiss Franc stands below R1 of 1 0180 and above S1 of 1 0150.
R1 counts Price Channel Indicator Upper Line among its 6 studies, and R3 is a 4 year high with 4 models. Bollinger Upper Band is among the 2 matches for R2. S2 leads in support with 13 models. S3 is backed up by a former 6 month high, a psychological level and 7 other studies, and the highest line has found 4 matches.
I’m _____ and this was the Support and Resistance Level Report for Friday. We’ll be back on Monday with the next overview, so see you then.
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