Wednesday Support and Resistance Levels – January 03, 2018

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

Euro/Dollar is trading in the range limited by R1 of 1 2080 and S1 of 1 2030. R1 is backed up by Price Channel Indicator Upper Line, a 2 year high and 4 other studies, while the upper two resistance lines have found 2 matches each. S3 is well confirmed with 11 studies, including a 20 day moving average, and the highest support line has found 7 matches. S2 is a psychological level with 3 technicals.

The Cable has been trending higher and now stands between R1 of 1 3630 and S1 of 1 3570. R2 is a 12 month high with 3 studies, and the lowest resistance line has found 2 matches. R3 sees a single confirmation. S3 is a 20 day moving average with 5 studies, and S2 is a psychological level with 4 confirmations. The highest support line has found 2 matches.

Dollar/Yen stands below R1 of 112 40 and above S1 of 112 10. Standing at a 50 day moving average, R2 sees 8 confirmations, whereas the lowest resistance line has found 6 matches. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 2 other studies. S1 is supported by Bollinger Lower Band, Price Channel Indicator Lower Line, a 100 day moving average and 2 other models. S2 is a 150 day moving average with 3 matches, and S3 is a psychological level with 2 studies.

And Dollar/Swiss Franc has the closest levels of 0 9730 in resistance and 0 97 in support. R1 counts a 150 day moving average among its 9 studies, and R2 is a 100 day moving average with 8 models. A 20 day moving average is among the 6 technicals for R3. S1 is Price Channel Indicator Lower Line with 4 studies, and S3 is a 2 year low with 3 models. A psychological level is the only match for S2.