It’s a new trading week, and the Dukascopy TV team is back with another Support and Resistance Level Report.
Euro/Dollar has been moving in waves, and it currently stands between R1 of 1 1070 and S1 of 1 10.
Standing at a 20 day moving average, R2 sees 9 confirmations. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and another model, and R1 has found a single match. Price Channel Indicator Lower Line is among the 3 studies for S2, and S3 is a 12 month low with 2 confirmations. The highest support line has found a single match.
The Cable is still reeling from the impact of the Brexit shock, and it now has R1 of 1 35 and S1 of 1 3230.
R2 is a former 4 year low with 6 matches, and Price Channel Indicator Upper Line is among the 2 studies for R3. The lowest resistance line is a psychological level with a single confirmation. S1 counts Price Channel Indicator Lower Line among its 3 matches, and the lower two support lines see a single confirmation each, both being psychological levels.
Dollar/Yen has the closest levels of 102 in resistance and 101 10 in support.
Standing at a former 12 month low, R2 sees 5 confirmations. Price Channel Indicator Upper Line is among the 2 studies for R3, and the lowest resistance line has found a single match. S2 counts Price Channel Indicator Lower Line among its 3 models, whereas the other two support lines have found a single match each, namely, a 2 year low for S1 and a psychological level for S3.
And Dollar/Swiss Franc is trading in the range limited by R1 of 0 98 and S1 of 0 9730.
The lowest resistance line has found 3 matches, and Price Channel Indicator Upper Line is among the 2 studies for R3. A 150 day moving average is the only confirmation for R2. S2 leads in support with 6 matches, and S3 counts Price Channel Indicator Lower Line among its 2 studies. A 50 day moving average is the only match for S1.
I’m Lucy Palfreeman and that’s how our in-house model tests out today. Stay with us to follow the latest market developments. Goodbye for now.
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