29.08.2016 – Support and Resistance by Dukascopy

By | August 29, 2016

Good morning traders, it’s a new week and the Dukascopy TV team is back with another Support and Resistance Level Report.
Euro/Dollar has opened lower, and it now stands below R1 of 1 1260 and above S1 of 1 12.
The lowest resistance line has found 8 matches. R2 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and another model, and a psychological level is the only study for R3. Standing at a 150 day moving average, S1 sees 4 confirmations, and S2 is a 50 day moving average with 2 matches. S3 is supported by Price Channel Indicator Lower Line and Bollinger Lower Band.
The Cable is down as well, trading in the range limited by R1 of 1 3140 and S1 of 1 3110.
R1 leads in resistance with 5 models, and R2 is a 50 day moving average with 3 matches. Price Channel Indicator Upper Line is the only confirmation for R3. Standing at a 4 year low, S3 has found 6 matches. S1 counts a 20 day moving average among its 3 studies, and S2 is a psychological level with 2 models.
Dollar/Yen, on the other hand, is up, as it has R1 of 102 60 and S1 of 102 10.
R1 is backed up by Bollinger Upper Band, a 50 day moving average and another model. R3 has found 3 matches, including Price Channel Indicator Upper Line and a 100 day moving average, and a psychological level is the only study for R2. The major psychological level that is S2 sees 10 confirmations, and S3 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and another model. The highest support line has found a single match.
And Dollar/Swiss Franc has the closest levels of 0 9790 in resistance and 0 9740 in support.
R2 is confirmed by Price Channel Indicator Upper Line, Bollinger Lower Band and another model. R3 is an important psychological level with 3 studies and the lowest line has found 2 matches. S3 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and another model. S1 is a 100 day moving average with 3 matches, and S2 counts a 20 day moving average among its 2 studies.
I’m Sam Meredith and that’s how our in-house model tests out this Monday. Check back in tomorrow for the next overview. Goodbye for now.

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