Wednesday Support and Resistance Levels – August 16, 2017

This is the Support and Resistance Level Report for Wednesday. Here’s how our in-house model tests out.

Euro/Dollar currently has the closest levels of 1 1750 in resistance and 1 1690 in support.

Standing near a 20 day moving average, R1 is well confirmed with 12 models. R2 is a 2 year high with 7 studies, while R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and another technical. S1 leads in support with 3 studies, and Bollinger Lower Band is among the 2 models for S2. S3 counts a psychological level as its only match.

The Cable has seen a decline, which leaves it between R1 of 1 2890 and S1 of 1 2850.

Standing at a 20 day moving average, R3 sees 6 confirmations, whereas R2 is a 50 day moving average with 4 models. The lowest resistance line has found a single match. S1 is supported by Price Channel Indicator Lower Line, a 100 day moving average and 3 other models, and S2 sees 2 confirmations. A 150 day moving average is the only match for S3.

Dollar/Yen finds itself below R1 of 110 70 and above S1 of 110 40.
R1 leads in resistance with 11 models, including a 20 day moving average, and R2 is a 100 day moving average with 4 studies. Bollinger Upper Band is the only match for R3. Standing at a psychological level, S2 sees 9 confirmations, and Bollinger Lower Band is among the 5 models for S3. The highest support line has found 4 matches.

And Dollar/Swiss Franc is trading in the range limited by R1 of 0 9740 and S1 of 0 97.

The lowest resistance line has found 13 matches. R2 is confirmed by Price Channel Indicator Upper Line, a 100 day moving average and 3 other studies, and R3 is a 150 day moving average with 2 models. Standing near a 20 day moving average, S3 sees 7 confirmations. S2 is a 50 day moving average with 6 models, and S1 has found 4 matches.