Monday Support and Resistance Levels – August 21, 2017

It’s a new trading week, and the team is back with another Support and Resistance Level Report.

We start with traders’ favourite pair, the Euro/Dollar, which has R1 of 1 1760 and S1 of 1 1730.

Standing at a 20 day moving average, R1 is well confirmed with 12 models. R2 is a 2 year high with 7 studies, and Price Channel Indicator Upper Line is among the 2 matches for R3. S1 leads in support with 12 models, and Bollinger Lower Band is among the 2 studies for S2. S3 is confirmed by a 50 day moving average and a psychological level.

The Cable has the closest levels of 1 2890 in resistance and 1 2860 in support.
R3 is a psychological level with 11 confirmations, while the lowest resistance line has found 6 matches. R2 is a 50 day moving average with 4 models. S1 counts a 100 day moving average among its 11 models, and S2 counts Price Channel Indicator Lower Line among its 4 studies. The lowest support line has found a single match.

Next up is the Dollar/Yen, which stands below R1 of 109 40 and above S1 of 109 10.

A psychological level is among the 7 studies for R2, and the other two resistance lines have found 3 matches each. R3 is a 100 day moving average. S2 is confirmed by Bollinger Lower Band, Price Channel Indicator Lower Line and 4 other models, and the highest support line has found 4 matches. S3 is a 6 month low with 2 confirmations.

And Dollar/Swiss Franc is trading in the range limited by R1 of 0 9670 and S1 of 0 9640.

The lowest resistance line sees 7 confirmations. R2 is confirmed by a 100 day moving average, Price Channel Indicator Upper Line and 2 other studies, and R3 is a 150 day moving average with 2 models. S1 counts a 50 day moving average among its 7 studies. S3 is supported by Price Channel Indicator Lower Line, a 12 month low and 4 other models, and S2 has found 2 matches, namely, Bollinger Lower Band and a psychological level.