This is the Support and Resistance Level Report for Wednesday. Here’s how our in-house model tests out.
Euro/Dollar is now trading in the range limited by R1 of 1 1750 and S1 of 1 1720. Standing near a 50 day moving average, R2 is well confirmed with 11 studies. R1 counts a 100 day moving average among its 7 models, and Price Channel Indicator Upper Line is among the 3 technicals for R3. The highest support line has found 6 matches, and S2 is a 20 day moving average with 4 models. S3 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and a 150 day moving average.
The Cable has the closest levels of 1 3260 in resistance and 1 3230 in support. R1 leads in resistance with 7 models, including a 50 day moving average, and Bollinger Upper Band is among the 3 studies for R2. The highest resistance line sees 2 confirmations. Standing at a 20 day moving average, S2 has found 10 matches, and the highest support line sees 7 confirmations. S3 is a 100 day moving average with 6 studies.
Dollar/Yen finds itself between R1 of 112 40 and S1 of 112 10. R3 is a 20 day moving average with 10 studies, and R2 counts a 50 day moving average among its 6 models. The lowest resistance line sees 4 confirmations. S1 counts Bollinger Lower Band among its 7 studies, and S2 is a 150 day moving average with 4 technicals. A psychological level is the only model for S3.
And Dollar/Swiss Franc stands below R1 of 0 9920 and above S1 of 0 9880. R1 is the most confirmed resistance line with 12 models, and R2 is a 20 day moving average with 11 studies. A major psychological level is among the 3 matches for R3. Bollinger Lower Band is among the 9 studies for S1. S2 is backed up by Price Channel Indicator Lower Line, a 50 day moving average and another model, and S3 is a 150 day moving average with 2 technicals.
This article was originally posted on FX Empire
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