Monday Support and Resistance Levels – January 08, 2018

Good Monday morning, the team is here with this week’s first Support and Resistance Level Report.

We start with traders’ favourite pair, the Euro/Dollar, which has R1 of 1 2040 and S1 of 1 20. R2 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band, a 2 year high and 4 other models. The lowest resistance line has found 5 matches, and R3 sees a single confirmation. Standing at a psychological level, S1 has found 6 matches. S2 counts a 20 day moving average among its 4 models, and S3 sees 3 confirmations, including Price Channel Indicator Lower Line and a 150 day moving average.

The Cable is trading in the range limited by R1 of 1 3580 and S1 of 1 3550. The lower two resistance lines have found 5 matches each, including Bollinger Upper Band for R1 and Price Channel Indicator Upper Line for R2, whereas R3 is a 12 month high with 3 studies. S1 leads in support with 9 models, and S3 counts a 20 day moving average among its 6 technicals. S2 is a psychological level with 5 studies.

Dollar/Yen has the closest levels of 113 30 in resistance and 112 90 in suppport. R1 leads in resistance with 12 studies. R2 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line and 2 other models, and R3 is a 6 month high with 3 confirmations. Standing at a 50 day moving average, S1 has found 10 matches. S2 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band, a 100 day moving average and 3 other models, and S3 sees a single confirmation.

And Dollar/Swiss Franc stands below R1 of 0 9770 and S1 of 0 9740. R1 is the most confirmed resistance line with 13 models, and R2 counts a 100 day moving average among its 4 studies. R3 is a 20 day moving average with 3 matches. S1 leads in support with 8 models, including a 150 day moving average, and S2 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and 3 other models. The lowest support line has found a single match.