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Monday Support and Resistance Levels – October 16, 2017

Jessica Walker

It’s a new trading week, and the team is back with another Support and Resistance Report.

Euro/Dollar has the closest levels of 1 1820 in resistance and 1 1780 in support. R1 is a 20 day moving average with 7 studies, and R2 is a 50 day moving average with 5 models. R3 is confirmed by Bollinger Upper Band, a psychological level and another technical.

S1 leads in support with 7 studies, and S2 has found 3 matches, including Price Channel Indicator Lower Line and Bollinger Lower Band. S3 is a 100 day moving average with 2 models. The Cable is trading in the range limited by R1 of 1 3290 and S1 of 1 3260. Standing at a 50 day moving average, R2 sees 5 confirmations, while the lowest resistance line has found 4 matches.

R3 is a psychological level with 2 models. S2 is a 50 day moving average with 6 studies, and the highest support line has found 5 matches. S3 is confirmed by Bollinger Lower Band, Price Channel Indicator Lower Line, a 100 day moving average and another model.

Dollar/Yen finds itself below R1 of 112 10 and above S1 of 111 60. R2 is well confirmed with 13 models, including a 20 day moving average, and R1 has found 7 matches. Bollinger Upper Band is among the 4 studies for R3. Standing near Bollinger Lower Band, S1 sees 5 confirmations, and a 150 day moving average is among the 4 models for S2. S3 is a psychological level with 2 studies.

And Dollar/Swiss Franc stands between R1 of 0 9780 and S1 of 0 9750. The lowest resistance line has found 8 matches, and Bollinger Upper Band is among the 6 studies for R2. R3 sees a single confirmation. S1 is well supported with 16 studies, including a 150 day moving average, and S2 counts a 100 day moving average among its 3 models. S3 is Bollinger Lower Band with 2 studies.

This article was originally posted on FX Empire

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