05.05.2017 – Support and Resistance by Dukascopy
May 5, 2017 7:18 amVideo
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This is the Support and Resistance Level Report for Friday. Let’s see how our in-house model tests out today.
First up is the Euro/Dollar, which has the closest levels of 1 0990 in resistance and 1 0950 in support.
R1 is backed up by Price Channel Indicator Upper Line, a psychological level and 2 other studies, and Bollinger Upper Band is among the 2 models for R2. R3 counts a 6 month high as its only match. S1 leads in support with 6 studies. S3 is confirmed by Bollinger Lower Band, a psychological level and another model, and S2 is a 20 day moving average with 2 matches.
The Cable is trading in the range limited by R1 of 1 2930 and S1 of 1 29.
R1 is the most confirmed resistance line with 9 models. R2 is backed up by Price Channel Indicator Upper Line, a 6 month high and 5 other studies, and Bollinger Upper Band is the only match for R3. The highest support line sees 8 confirmations, and S2 is a 20 day moving average with 2 models. S3 is supported by a 50 day moving average and a psychological level.
Dollar/Yen has seen a drop, which leaves it between R1 of 112 60 and S1 of 112 10.
R2 has found 5 matches, including Price Channel Indicator Upper Line and Bollinger Upper Band. R3 is a psychological level with 2 studies, and the lowest resistance line sees a single confirmation. The upper two support lines have found 6 matches each, including a 150 day moving average for S2, while S3 is a psychological level with 2 studies.
And Dollar/Swiss Franc is down as well, as it has R1 of 0 99 and S1 of 0 9860.
The lowest resistance line sees 8 confirmations, and R2 has found 7 matches. R3 is confirmed by a major psychological level, a 50 day moving average and 2 other studies. Price Channel Indicator Lower Line and Bollinger Lower Band are among the 4 models for S1, and S2 sees 2 confirmations. S3 is a 6 month low with 2 studies.
You’ve been watching the Support and Resistance Level Report for Friday with me, Celeste Skinner. The next report will be available on Monday, and there’s plenty of broadcasts coming up later today. Stay with us.
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