Wednesday Support and Resistance Levels – January 31, 2018

Good morning traders, you’re watching the Support and Resistance Level Report for Wednesday.

Euro/Dollar is now trading in the range limited by R1 of 1 25 and S1 of 1 24. First two resistance levels both have 2 confirmations. R1 is a psychological level and R2 is a price channel indicator upper line. There’s just a single match for R3. S1 has found 6 matches. There are 3 studies near S3, which is a 2 year low and only a 10 day moving average is near S2.

The Cable has the closest levels of 1 4310 in resistance and 1 4150 in support. R2 is both a weekly high and a price channel indicator upper line. R1 is backed up by a Bollinger upper band and R3 is a psychological level. There are 2 studies near S1. S2 is a psychological level and S3 is a 20 day moving average.

Dollar/Yen has been hovering between R1 of 109 10 and S1 of 108 40. R1 leads in resistance with 11 confirmations. R3 posts 6 matches and a 20 day moving average is among them.

There are 4 confirmations for the psychological level R2. S1 is confirmed by a price channel indicator lower line and 4 more models. S2 and S3 have 3 confirmations each. The second line is a Bollinger lower band and S3 is a 12 month low.

And Dollar/Swiss Franc finds itself between R1 of 0 9390 and S1 of 0 9290. R1 and R2 both have 5 matches and the second line used to be a 2 year low. There are 3 confirmations for R3, which is a psychological level. S1 has a price channel indicator lower line among its 3 matches. S2 and S3 both have just a single confirmation and S3 is a psychological level of 0 90.