Good Monday morning, the team is here with this week’s first Support and Resistance Level Report.
First up is the Euro/Dollar, which stands below R1 of 1 1690 and S1 of 1 1650.
R1 is a 20 day moving average with 5 confirmations, and a 100 day moving average is among the 2 models for R2. R3 counts a 50 day moving average among its 2 technicals. S1 leads in support with 12 matches. Price Channel Indicator Lower Line is among the 3 models for S2, whereas S3 is confirmed by a psychological level, a 150 day moving average and another study.
The Cable is trading in the range limited by R1 of 1 3140 and S1 of 1 3110. The lowest resistance line has found 7 matches, and R2 is a 20 day moving average with 6 studies. Standing at a 50 day moving average, R3 sees 3 confirmations. S1 is a 100 day moving average with 8 matches, and S2 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other models. S3 is a psychological level with 2 studies.
Dollar/Yen has the closest levels of 113 70 in resistance and 113 40 in support. R1 is the most confirmed resistance line with 11 models. R2 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line, a 6 month high and 4 other models, and R3 is a psychological level with 2 studies. Standing near a 20 day moving average, S1 sees 11 confirmations. S2 is backed up by Bollinger Lower Band, a 50 day moving average and another model, and S3 has found 3 matches, including Price Channel Indicator Lower Line and a 100 day moving average.
And Dollar/Swiss Franc finds itself between R1 of 0 9970 and S1 of 0 9930. R2 is well confirmed with 21 studies, including a major psychological level, while the lowest resistance line has found 9 matches. R3 counts Price Channel Indicator Upper Line among its 6 models. Standing near a 20 day moving average, S1 sees 7 confirmations and S3 is supported by Bollinger Lower Band and a 150 day moving average. The second line has found a single match.
This article was originally posted on FX Empire
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