We’ve come to this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out this Friday.
Euro/Dollar has been steadily recovering from its losses, and it now stands between R1 of 1 1990 and S1 of 1 1950.
R1 counts a psychological level among its 8 studies, and a 2 year high is now among the 6 models for R2. R3 counts Price Channel Indicator Upper Line as its only match. Standing near a 20 day moving average, S1 sees 11 confirmations, and the second line has found 7 matches. S3 is a 50 day moving average with 2 models.
The Cable has rebounded as well, and it currently stands below R1 of 1 3620 and above S1 of 1 3580. R2 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band and another model, while the lowest resistance line has found 2 matches. R3 sees a single confirmation. S2 is a psychological level with 8 models, and the highest support line has found 6 matches. S3 is a 6 month high with 5 studies.
Dollar/Yen, meanwhile, has seen a correction, and it now has the closest levels of 112 10 in resistance and 111 80 in support. R2 has found 6 matches, including Price Channel Indicator Upper Line and Bollinger Upper Band. The lowest resistance line sees 4 confirmations, while R3 is backed up by a single model. Standing at a 150 day moving average, S2 sees 6 confirmations, and S3 counts a 50 day moving average among its 4 studies. The highest support line has found 3 matches.
And Dollar/Swiss Franc is trading in the range limited by R1 of 0 9710 and S1 of 0 9660. Bollinger Upper Band is among the 4 studies for R1, and R2 is Price Channel Indicator Upper Line with 3 matches. R3 counts a 150 day moving average among its 2 models. Standing at a 50 day moving average, S2 is well confirmed with 16 studies, and the highest support line has found 5 matches. S3 is a psychological level with 2 confirmations.
This article was originally posted on FX Empire
More From FXEMPIRE:
- Market Snapshot – Markets in Consolidation Mode
- GBP/USD Facing Major Resistance Trend Line On Weekly Chart
- Crude Oil Price Update – Waiting for OPEC Decision on Production Cut Extension; $50.30 is the Pivot
- Important GBP Pairs’ Technical Overview: 22.09.2017
- EUR/USD Mid-Session Technical Analysis for September 22, 2017
- USD/JPY Fundamental Daily Forecast – Pressured by Flight-to-Safety Buying