Wednesday Support and Resistance Levels – July 19, 2017

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

Euro/Dollar has inched lower and now stands between R1 of 1 1570 and S1 of 1 1510. Price Channel Indicator Upper Line is among the 3 models for R1, and R2 is a 2 year high with 2 studies. A psychological level is the only match for R3. Standing at a former 12 month high, S2 has found 7 studies, whereas S3 is a 20 day moving average with 3 models. A psychological level is among the 2 matches for S1.

The Cable is down as well, as it has the closest levels of 1 3050 in resistance and 1 30 in support. R1 counts a 6 month high among its 6 studies, while R2 has found 3 matches, including Bollinger Upper Band and Price Channel Indicator Upper Line. Standing at a 12 month high, R3 sees a single confirmation. S2 is a 50 day moving average with 7 studies, and S1 counts a psychological level among its 4 models. A 100 day moving average is the only match for S3.

Dollar/Yen is trading in the range limited by R1 of 112 50 and S1 of 112. Standing near a 20 day moving average, R1 sees 7 confirmations. Bollinger Upper Band is among the 6 studies for R3, and R2 counts a 150 day moving average among its 4 models. The highest support line has found 3 matches, and S2 is confirmed by Price Channel Indicator Lower Line, Bollinger Lower Band and another study. S3 is a psychological level with 2 models. And Dollar/Swiss Franc finds itself below R1 of 0 9590 and above S1 of 0 9550.

R2 is well confirmed with 12 models, including a 20 day moving average, whereas the lowest resistance line has found 3 matches. R3 is a 50 day moving average with 2 studies. S1 is supported by a 12 month low, Bollinger Lower Band and 4 other studies, while Price Channel Indicator Lower Line is among the 3 models for S2. The lowest support line sees a single confirmation.