Tuesday Support and Resistance Levels – August 29, 2017

It’s time for Tuesday’s Support and Resistance Level Report. Here’s how our in-house model tests out.

The start of the week has been quite bullish for the Euro/Dollar, which now has R1 of 1 1990 and S1 of 1 1960.

R1 is confirmed by Price Channel Indicator Upper Line, a psychological level and 4 other models, while the upper two resistance lines have found 2 matches each. A former 2 year high is now among the 7 models for S2, and S1 sees 2 confirmations. Bollinger Lower Band is the only match for S3.

The Cable is up as well, and it stands between R1 of 1 2950 and S1 of 1 2920.
Standing at a 50 day moving average, R1 sees 5 confirmations. Bollinger Upper Band is among the 2 models for R3, and R2 counts a psychological level as its only match. S2 is well confirmed with 11 studies, including a 100 day moving average, and the highest support line has found 3 matches. Price Channel Indicator Lower Line is among the 3 models for S3.

Dollar/Yen, meanwhile, has been inching lower, and it finds itself below R1 of 108 90 and above S1 of 108 50.

A 20 day moving average is among the 6 studies for R2, and the lowest resistance line has found 5 matches. R3 is confirmed by Bollinger Upper Band, a 100 day moving average and 2 other models. S2 counts a 6 month low among its 3 studies, and Bollinger Lower Band is among the 2 models for S1. S3 has found a single match, namely, a psychological level.

And Dollar/Swiss Franc is down as well, as it has the closest levels of 0 9540 in resistance and 0 95 in support.

R2 is a 50 day moving average with 8 matches, while the lowest resistance line sees 7 confirmations. R3 counts a 100 day moving average among its 3 studies. Standing at a 12 month low, S2 sees 5 confirmations. S1 is backed up by Price Channel Indicator Lower Line, a psychological level and 2 other studies, and S3 counts a 2 year low as its only match.