You’re watching this week’s first Support and Resistance Level Report. Here’s how our in-house model tests out this Monday morning.
Euro/Dollar has opened higher and now stands between R1 of 1 0990 and S1 of 1 0950.
Standing near a psychological level, R1 sees 7 confirmations. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and another model, and R2 is a 100 day moving average with 2 studies. The upper two support lines have found 4 matches each, including Price Channel Indicator Lower Line for S2, whereas Bollinger Lower Band is among the 2 models for S3.
The Cable is trading in the range limited by R1 of 1 2210 and S1 of 1 2170.
The lowest resistance line has found 9 matches, and a 20 day moving average is among the 2 models for R2. R3 counts Bollinger Upper Band as its only confirmation. The highest support line has found 5 matches. S3 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and another model, and S2 is a psychological level with 2 matches.
Dollar/Yen has seen a decline, which leaves it below R1 of 105 and above S1 of 104 50.
R1 is backed up by a psychological level, a 150 day moving average and 2 other models, whereas Price Channel Indicator Upper Line is among the 4 studies for R2. The highest resistance line has found a single match. Standing at a 20 day moving average, S2 is well confirmed with 14 models, and the highest support line has found 6 matches. S3 is a 50 day moving average with 2 studies.
And Dollar/Swiss Franc is down as well, as it now has R1 of 0 99 and S1 of 0 9870.
R2 is the most confirmed resistance line with 17 models, whereas R1 has found 10 matches. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band, a psychological level and 4 other models. S1 counts a 20 day moving average among its 5 matches. S3 is backed up by Bollinger Lower Band, a 150 day moving average and another model, and S2 is a 50 day moving average with 2 studies.
I’m Jack Everitt and you’ve been watching the Support and Resistance Level Report for Monday, but the trading week is just getting started, so stay with us.
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