Good Monday morning, the team is here with this week’s first Support and Resistance Level Report.
Euro/Dollar has the closest levels of 1 2250 in resistance and 1 2220 in support. The lowest resistance line has found 6 matches. R2 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 3 other studies, and a psychological level is the only model for R3.
The highest support line has found 6 matches, and the lower two support lines see 3 confirmations each. S2 is actually a former 2 year high, whereas S3 is a psychological level. The Cable is trading in the range limited by R1 of 1 39 and S1 of 1 3860.
The lowest resistance line counts Bollinger Upper Band among its 3 studies, and Price Channel Indicator Upper Line is among the 3 models for R2. R3 counts a psychological level as its only match. S2 leads in support with 4 models, and S1 has found 2 matches. Standing at a former 2 year high, S3 sees 2 confirmations.
Dollar/Yen finds itself below R1 of 111 and above S1 of 110 70. The lowest resistance line has found 8 matches, and R2 is a 150 day moving average with 3 models. Price Channel Indicator Upper Line is the only study for R3. S1 leads in support with 10 studies, and S2 has found 5 matches, including Price Channel Indicator Lower Line and Bollinger Lower Band. S3 is a 12 month low with 2 confirmations.
And Dollar/Swiss Franc stands between R1 of 0 9640 and S1 of 0 9610. R1 leads in resistance with 5 studies, and R2 is a 150 day moving average with 4 models. R3 counts a 50 day moving average among its 3 matches. The highest support line sees 5 confirmations, and S3 is a 2 year low with 4 models. Bollinger Lower Band is among the 3 matches for S2.
This article was originally posted on FX Empire
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