It’s a new trading week, and the Dukascopy TV team is back with another Support and Resistance Level Report.
We start with the trader’s favourite pair, the Euro/Dollar, which has R1 of 1 1490 and S1 of 1 1450.
R1 is confirmed by Price Channel Indicator Upper Line, a psychological level and 2 other studies, while the upper two resistance lines have found a single match each, including Bollinger Upper Band for R2 and a 2 year high for R3. A former 12 month high is now among the 7 models for S1, and S2 is a 20 day moving average with 4 studies. A 50 day moving average is among the 2 matches for S3.
The Cable has the closest levels of 1 3110 in resistance and 1 3050 in support.
R1 has found 4 matches, including Price Channel Indicator Upper Line and Bollinger Upper Band, while R2 sees a single confirmation. A 12 month high is the only model for R3. S2 leads in support with 11 studies, and S3 is a 50 day moving average with 8 matches. A former 6 year high is among the 3 models for S1.
Dollar/Yen finds itself between R1 of 112 80 and S1 of 112 30.
R2 is the most confirmed resistance line with 14 models. R3 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line and 4 other studies, and R1 is a 150 day moving average with 4 matches. S2 counts a 100 day moving average among its 3 studies, while the other two support lines see 2 confirmations each, including Bollinger Lower Band for S3.
And Dollar/Swiss Franc stands below R1 of 0 9650 and above S1 of 0 9610.
Standing at a 20 day moving average, R1 is well confirmed with 13 studies. R3 has found 4 matches, including Bollinger Upper Band and Price Channel Indicator Upper Line, and R2 is a 50 day moving average with 2 models. S2 is backed up by Bollinger Lower Band, a 12 month low, Price Channel Indicator Lower Line and 4 other studies, and the highest support line has found 4 matches. S3 is a psychological level with 2 models.
I’m Celeste Skinner and that’s how our in-house model tests out today. Check back in tomorrow for the next overview.
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