Friday Support and Resistance Levels – December 29, 2017

Good morning, traders, we’ve finally come to this year’s very last Support and Resistance Level Report.

Euro/Dollar has the closest levels of 1 1960 in resistance and 1 1930 in support. Price Channel Indicator Upper Line is among the 6 studies for R1, and R3 is a 2 year high with 5 confirmations. R2 counts a psychological level among its 2 models. Standing at a 20 day moving average, S2 sees 8 confirmations, and the highest support line has found 4 matches. S3 is a 50 day moving average with 3 studies.

The Cable finds itself between R1 of 1 3490 and S1 of 1 3450. R1 is backed up by Bollinger Upper Band, a psychological level and 2 other studies, whereas R3 is a 12 month high with 4 models. Price Channel Indicator Upper Line is among the 3 studies for R2. Standing at a 20 day moving average, S2 sees 10 confirmations, and the highest support line has found 6 matches. S3 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band, a 50 day moving average and 2 other studies.

Dollar/Yen has inched even lower and now has R1 of 112 90 and S1 of 112 60. R2 leads in resistance with 16 studies, and a 50 day moving average is among the 7 models for R1. R3 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band and another technical. The highest support line has found 7 matches, and S2 sees 3 confirmations, including Bollinger Lower Band and a 100 day moving average. Price Channel Indicator Lower Line is among the 2 models for S3.

And Dollar/Swiss Franc stands below R1 of 0 9790 and above S1 of 0 9750. R2 is well confirmed with 13 models, including a 20 day moving average, and R1 counts a 100 day moving average among its 4 studies. Bollinger Upper Band is among the 2 matches for R3. Standing near Price Channel Indicator Lower Line, S2 sees 3 confirmations, and the other two support lines have found 2 matches each, including a 150 day moving average for S1 and a psychological level for S3.

This article was originally posted on FX Empire

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