Good morning, this is the Support and Resistance Level Report for Tuesday and here’s how our in-house model tests out.
Euro/Dollar is trading in the range limited by R1 of 1 19 and S1 of 1 1860. The lowest resistance line has found 8 matches, and Price Channel Indicator Upper Line is among the 4 models for R2. R3 is a psychological level with 2 confirmations. S1 leads in support with 15 models, and S2 is a 100 day moving average with 3 studies. A 50 day moving average is among the 2 technicals for S3.
The Cable has been moving in waves, but it now has R1 of 1 3480 and S1 of 1 3450. R1 leads in resistance with 5 models, and R3 is a 12 month high with 4 confirmations. Bollinger Upper Band is among the 3 studies for R2. The second support line has found 6 matches, and S1 sees 3 confirmations. A 20 day moving average is the only model for S3.
Dollar/Yen has the closest levels of 112 80 in resistance and 112 50 in support. R1 is a 50 day moving average with 5 models. R3 is confirmed by Price Channel Indicator Upper Line, a 6 month high and 3 other studies, and R2 is Bollinger Upper Band with 2 confirmations. S1 leads in support with 9 models, and S2 counts a 150 day moving average among its 6 studies. S3 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other technicals.
And Dollar/Swiss Franc finds itself between R1 of 0 9860 and S1 of 0 9830. R1 counts a 50 day moving average among its 8 models, and R3 is a major psychological level with 3 studies. The second line has found a single match. S1 is the most confirmed support line with 15 models, and Bollinger Lower Band is among the 2 studies for S2. A psychological level is the only match for S3.
This article was originally posted on FX Empire
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