The Dukascopy TV team is here with another Support and Resistance Level Report. Here’s how our in-house model tests out this Tuesday.
Euro/Dollar is trading in the range limited by R1 of 1 0620 and S1 of 1 0590.
The lowest resistance line sees 11 confirmations, and a former 6 month low is among the 4 models for R3. R2 is a 20 day moving average with 2 matches. S1 leads in support with 9 models. S2 is backed up by Price Channel Indicator Lower Line, a 12 month low and another study, and S3 is a 4 year low with 2 confirmations.
The Cable has lost some ground and now stands between R1 of 1 2420 and S1 of 1 2390.
R1 counts a 20 day moving average among its 8 models. R2 is confirmed by a psychological level, a 50 day moving average and 2 other studies, and Price Channel Indicator Upper Line is the only match for R3. The highest support line sees 4 confirmations, and Price Channel Indicator Lower Line is among the 2 models for S3. Bollinger Lower Band is the only match for S2.
Dollar/Yen has the closest levels of 112 40 in resistance and 111 90 in support.
R1 leads in resistance with 4 studies, and Price Channel Indicator Upper Line is among the 3 models for R2. Standing near a psychological level, R3 sees 2 confirmations. The highest support line has found 3 matches, whereas the other two lines have found a single match each, namely, a psychological level for S2 and a 20 day moving average for S3.
And Dollar/Swiss Franc stands below R1 of 1 0160 and S1 of 1 0120.
R1 is the most confirmed resistance line with 7 studies, and Price Channel Indicator Upper Line is among the 3 models for R2. R3 counts Bollinger Upper Band as its only confirmation. The upper two support lines have found 7 matches each, including a 6 month high and a psychological level for S2, whereas S3 is a 50 day moving average with 2 matches.
I’m ____ and you’ve been watching the Support and Resistance Level Report for Tuesday. Check back in tomorrow for the next overview. Goodbye.
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