02.10.2014 – Support and Resistance by Dukascopy
October 2, 2014 7:00 amVideo
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You’re watching the Support and Resistance Level Report for Thursday. I’m Ben Jones and here’s how our in-house model tests out today.
Euro/Dollar has seen some upward movement, and it now has the closest levels of 1 2670 in resistance and 1 2640 in support.
A 20 day moving average is among the 7 models for R3, and the lowest resistance line has found 4 confirmations. R2 is a 10 day moving average with 3 studies. S2 counts Price Channel Indicator Lower Line and a 2 year low among its 9 confirmations, and S1 has found 6 matches, including Bollinger Lower Band. The lowest support line is a psychological level with 2 models.
The Cable has regained some ground as well and now stands between R1 of 1 6230 and S1 of 1 62.
R1 is the most confirmed resistance line with 7 models, and a 10 day moving average is among the 5 matches for R3. The second line is backed up by a 20 day moving average and two other studies. The highest support line has found 11 matches, and S3 is confirmed by Price Channel Indicator Lower Line, a 6 month low and three other studies. S2 is Bollinger Lower Band with 2 models.
Dollar/Yen has declined from the highest point it reached yesterday and is trading in the range limited by R1 of 108 90 and S1 108 60.
R2 is a former 4 year high with 11 confirmations, and R1 counts a 10 day moving average among its 8 studies. R3 is backed up by Price Channel Indicator Upper Line, a psychological level and another model. S1 leads in support with 6 matches, and S3 is confirmed by Bollinger Lower Band, a 50 day moving average, a psychological level and another study. Standing at a 20 day moving average, S2 has found a single match.
And Dollar/Swiss Franc has inched lower as well, which leaves it below R1 of 0 9560 and above S1 of 0 9530.
R1 sees 9 confirmations, including Bollinger Upper Band. R2 counts Price Channel Indicator Upper Line and a 12 month high among its 8 studies, and the highest resistance line has found a single match. S3 is a 20 day moving average with 9 confirmations, and S2 is backed up by 7 models, including a psychological level. The highest support line has found 5 matches.
That’s all for Thursday’s Support and Resistance Level. We’ll be back tomorrow with the next overview of the key price levels. See you then.
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