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Thursday Support and Resistance Levels – December 07, 2017

Kiays Khalil

Good morning, traders, let’s see where the Support and Resistance levels stand this Thursday morning.

Euro/Dollar has lost some ground, and it now has R1 of 1 18 and S1 of 1 1770. R1 is a 100 day moving average with 7 studies, whereas the second line has found 6 matches. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 3 other models. Standing at a 50 day moving average, S1 sees 4 confirmations, and S3 counts Price Channel Indicator Lower Line among its 4 models. S2 is Bollinger Lower Band with 2 studies.

Pound/Dollar has the closest levels of 1 3380 in resistance and 1 3350 in support. R3 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line and 4 other studies, whereas the lowest resistance line has found 4 matches. R2 is a psychological level with 3 models. The highest support line has found 4 matches, and S3 is a 50 day moving average with 3 studies. S2 counts a 20 day moving average as its only model.

Dollar/Yen finds itself between R1 of 112 80 and S1 of 112 40. Standing at a 50 day moving average, R1 sees 5 confirmations, and the other two resistance lines have found 2 matches each, including Bollinger Upper Band for R2 and Price Channel Indicator Upper Line for R3. Standing at a 20 day moving average, S1 is well supported with 11 models. The second line sees 9 confirmations, and S3 is a 150 day moving average with 7 studies.

And Dollar/Swiss Franc is trading in the range limited by R1 of 0 9910 and S1 of 0 9980. The lowest resistance line has found 4 matches, and Bollinger Upper Band is among the 2 models for R2. R3 is a psychological level with 2 confirmations. S2 leads in support with 17 studies, including a 50 day moving average, and S1 counts a 20 day moving average among its 7 models. Bollinger Lower Band is among the 3 models for S3.

This article was originally posted on FX Empire

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