It's a new trading week, and the team is back with another edition of the Support and Resistance Level Report.
Euro/Dollar finds itself between R1 of 1 2050 and S1 of 1 20.
R2 leads in resistance with 5 confirmations and it's a price channel indicator upper line. R1 and R3 both have a couple of matches and the closest level is a Bollinger upper band. S1 and S3 have 4 matches each. S1 is a psychological level and S3 is a 20 day moving average. There are 3 studies near S2.
Next up is the Cable, which has the closest levels of 1 3220 in resistance and 1 3120 in support.
R2 has a 6 month high among its 4 confirmations. R1 follows with 3 matches and it's a price channel indicator upper line. R3 is a 12 month high with a total of 2 matches. S3 is well confirmed with 15 matches and it's a 100 day moving average. S2 sees 3 matches and it's a psychological level. A Bollinger upper band is one of the 2 matches for S1.
Dollar/Yen trades in a range limited by R1 of 108 50 and S1 of 108.
R2 and R3 both have 5 confirmations. The second line is a 20 day moving average and R3 is a psychological level. There are 4 studies near R1. S2 is backed up by a price channel indicator lower line and 3 more models. S1 posts 3 matches, including a Bollinger lower band and a 6 month low. There's just a single confirmation for S3.
And the last pair for this report is the Dollar/Swiss Franc, which has R1 of 0 9520 and S1 of 0 9460.
A 10 day moving average is one of the 10 confirmations for R2. R3 has found 5 matches and it's a 50 day moving average. There are 3 studies near R1. S2 is confirmed by a price channel indicator lower line, a 2 year low and 7 more models. A Bollinger lower band is among the 5 matches for S1. S3 posts a single confirmation.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
