14.03.2016 – Support and Resistance by Dukascopy
March 14, 2016 8:16 amVideo
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It’s a new trading week, and the Dukascopy TV team is back with another Support and Resistance Level Report.
The first pair is the Euro/Dollar, which is trading in the range limited by R1 of 1 1180 and S1 of 1 1110.
Bollinger Upper Band is among the 4 studies for R2. R3 is backed up by Price Channel Indicator Upper Line, a 3 month high and another model, and the lowest line sees 3 confirmations. S2 is supported by a psychological level, a 50 day moving average and 3 other studies. S3 counts Price Channel Indicator Lower Line among its 4 models, and the highest support line has found 2 matches.
Pound/Dollar has the closest levels of 1 4440 in resistance and 1 4320 in support.
The lowest two resistance lines have found 3 matches each, including Bollinger Upper Band and a psychological level for R2, whereas Price Channel Indicator Upper Line is the only confirmation for R3. Standing at a 20 day moving average, S2 has found 6 matches, and a 50 day moving average is among the 2 studies for S1. The lowest line counts a psychological level as its only match.
Dollar/Yen stands below R1 of 113 90 and above S1 of 113 60.
The lowest resistance line sees 7 confirmations. Bollinger Upper Band is among the 2 models for R2, and a 50 day moving average is the only study for R3. S1 is the most confirmed support line with 14 models. Standing at a 20 day moving average, S2 has found 4 matches, and Bollinger Lower Band is among the 2 studies for S3.
And the last pair for this report is the Dollar/Swiss Franc, which has R1 of 0 9870 and S1 of 0 9830.
R2 is well confirmed with 15 studies, including a 100 day moving average and a psychological level. R1 counts a 150 day moving average among its 4 models, and Price Channel Indicator Upper Line is among the 3 matches for R3. S1 is Bollinger Lower Band with 5 models. S3 is supported by Price Channel Indicator Lower Line, a 3 month low and 2 other studies, and the second line sees a single confirmation.
I’m Sam Meredith and that’s how our in-house model tests out this Monday. Stay with us for our on-going coverage of the forex markets. Goodbye for now.
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