It’s time for this week’s last Support and Resistance Level Report.
First up is the Euro/Dollar, which is trading in the range limited by R1 of 1 11 and S1 of 1 1060.
The lowest resistance line has found 5 matches. R2 is backed up by Bollinger Upper Band, a 150 day moving average and 2 other studies, and Price Channel Indicator Upper Line is among the 3 models for R3. Standing at a psychological level, S2 is well confirmed with 16 studies. S1 is a 20 day moving average with 6 models, and S3 is Price Channel Indicator Lower Line with 4 matches.
The Cable has been moving in waves, and it now stands between R1 of 1 32 and S1 of 1 3160.
R2 leads in resistance with 7 models. The lowest resistance line has found 2 matches, and Bollinger Upper Band is the only study for R3. S2 is well supported with 14 models, including a 20 day moving average and a former 4 year low. The highest support line has found 4 matches, and S3 is a psychological level with a single confirmation.
Dollar/Yen has plunged, and it currently has R1 of 104 10 and S1 of 103 40.
R2 is a 50 day moving average with 6 studies, and Price Channel Indicator Upper Line is among the 2 models for R3. A 20 day moving average is the only match for R1. Standing at a 2 year low, S3 sees 5 confirmations. S2 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line, a psychological level and another model, and the highest support line has found a single match.
And Dollar/Swiss Franc is down as well, as it finds itself below R1 of 0 9810 and above S1 of 0 9780.
R2 is the most confirmed resistance line with 16 studies. R1 counts a 150 day moving average among its 7 models, and R3 is Price Channel Indicator Upper Line with 5 confirmations. Standing at a 50 day moving average, S1 has found 3 matches. S2 is a 100 day moving average with 2 models, and S3 counts Price Channel Indicator Lower Line as its only match.
I’m Sam Meredith and that’s how our in-house model tests out today. We’ll be back on Monday, but for now, goodbye.
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