Wednesday Support and Resistance Levels – August 02, 2017

Another Support and Resistance Level Report. Here’s how our in-house model tests out.

We start with trader’s favourite pair, the Euro/Dollar, which has R1 of 1 1850 and S1 of 1 1810.

R1 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band, a 2 year high and 7 other models, while R3 is a psychological level with 2 confirmations. The second line has found a single match. S2 leads in support with 6 studies, and S1 sees 3 confirmations. A 20 day moving average is the only match for S3.

The Cable is trading in the range limited by R1 of 1 3220 and S1 of 1 3190. R1 sees 9 confirmations, including Bollinger Upper Band and a former 6 month high, while Price Channel Indicator Upper Line is among the 5 models for R2. A 12 month high is the only match for R3. Standing at a 20 day moving average, S2 sees 7 confirmations, and the highest support line has found 3 matches. S3 is a 50 day moving average with a single confirmation.

Dollar/Yen has inched higher and now stands between R1 of 111 and S1 of 110 60. The lowest resistance line has found 7 matches, and R3 counts a 150 day moving average among its 5 studies. R2 is a 100 day moving average with 4 models. S1 leads in support with 7 studies. S2 is confirmed by Price Channel Indicator Lower Line, Bollinger Lower Band, a psychological level and 2 other studies, while a 6 month low is the only match for S3.

And Dollar/Swiss Franc finds itself below R1 of 0 9680 and S1 of 0 9650.

R1 leads in resistance with 9 models. R2 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band and 3 other studies, and R3 is a 100 day moving average with 2 matches. S3 counts Bollinger Lower Band among its 9 models, and S2 is a psychological level with 6 studies. Standing at a 50 day moving average, S1 sees 4 confirmations.