Friday Support and Resistance Levels – August 11, 2017

Friday Support and Resistance Levels – August 11, 2017
Friday Support and Resistance Levels – August 11, 2017

We’ve reached the last day of the trading week, so let’s see how our in house model tests out with the Support and Resistance Level Report.

Euro/Dollar has been moving in waves, and now has R1 of 1 1790 and S1 of 1 1750. R3 leads in resistance with 10 models including a 24 month high. There are 7 and 6 technicals for R1 and R2 respectively. S1 leads in support with 10 signals. S2 is a 20 day moving average with 2 technicals, and S3 has found a single match.

The trend for the Cable has been shifting throughout the session, and it now stands below R1 of 1 30 and above S1 of 1 2970. R1 is well confirmed with 10 signals, including a pyschological level. R2 has 6 technicals, whereas R3 is a 20 day moving average with 3 matches. Both S1 and S2 have 4 models each, including Bollinger Lower Band and a 50 day moving average for S2. S3 is a 100 day moving average with 2 confirmations.

Dollar/Yen has been declining gradually and it currently sits between R1 of 109 50 and S1 of 109 10. R2 has 7 confirmations including a pyschological level, whereas R3 is a 20 day moving average with 4 models. R1 has found 2 matches. Price Channel Indicator, Bollinger Lower Band and 2 other signals support S1. Both S2 and S3 have 1 technical each, including a 6 month low for S2.

And Dollar/Swiss Franc has also been moving in a downward trend, leaving it below R1 of 0 9630 and above S1 of 0 9590. R2 is well confirmed 11 models, and R3 has 8 signals. R1 is a 20 day moving average with 7 technicals. S3 leads in support with 6 matches, including Price Channel Indicator Lower Line, Bollinger Lower Band and a 12 month low. S1 has 3 models in support, and S2 is a psychological level with 2 studies.

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