This is the Support and Resistance Level Report for Thursday. Let’s see how our in-house model tests out.
Euro/Dollar is trading in the range limited by R1 of 1 1880 and S1 of 1 1840. R2 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 3 other models, and the lowest resistance line has found 4 matches. R3 counts a psychological level as its only confirmation. S3 is a 20 day moving average with 9 studies, and the highest support line has found 7 matches. S2 is a 100 day moving average with 3 models.
The Cable is on the rise, and it now has R1 of 1 35 and S1 of 1 3450. Standing at a 12 month high, R3 sees 4 confirmations. R1 is a psychological level with 2 models, and the second line has found a single match. S2 counts a 50 day moving average among its 9 studies, and the highest support line has found 3 matches. S3 is a 100 day moving average with 2 models.
Dollar/Yen has also been trending higher, and it stands between R1 of 112 30 and S1 of 112. R2 counts a 50 day moving average among its 5 models, and R3 is a 6 month high with 4 studies. The lowest resistance line sees 2 confirmations. S2 counts a 150 day moving average among its 9 matches, and the highest support line sees 7 confirmations. S3 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and another model.
And Dollar/Swiss Franc has the closest levels of 0 9860 in resistance and 0 9830 in support. A 20 day moving average is among the 5 models for R2, and R1 has found 4 matches. R3 is a major psychological level with 3 studies. S1 is well confirmed with 13 technicals, including a 50 day moving average. S2 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and 3 other studies, and S3 is a 150 day moving average with 4 models.
This article was originally posted on FX Empire
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