Support and Resistance

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You're watching the Support and Resistance Level Report for Tuesday. Here's how our in-house model tests out today.
Euro/Dollar has been moving in waves, and it now has R1 of 1 09 and S1 of 1 0860.
The second resistance line has found 9 confirmations, and R1 is a 20 day moving average with 4 matches. R3 is backed up by Bollinger Upper Band, a 100 day moving average and another model. S1 leads in support with 6 studies, and S2 counts a 50 day moving average among its 4 models. S3 is Bollinger Lower Band with 3 matches.
Pound/Dollar has spent most of the last few days trading in the range limited by R1 of 1 4570 and S1 of 1 4510.
Standing at a 20 day moving average, R3 sees 9 confirmations, and the second line is a 6 month low with 6 models. R1 counts a 4 year low among its 5 matches. S1 is backed up by Price Channel Indicator Lower Line, a psychological level and 3 other models, while the other two support lines see a single confirmation each, including a psychological level for S3.
Dollar/Yen currently stands below R1 of 117 70 and above S1 of 117 30.
R2 is a 3 month low with 5 studies. The lowest resistance line has found 4 matches, and R3 is a psychological level with 2 confirmations. S1 counts Bollinger Lower Band among its 4 models, and S2 is a 12 month low with 2 studies. A psychological level is among the 2 matches for S3.
And the last pair for this report is the Dollar/Swiss Franc, which stands between R1 of 1 0010 and S1 of 0 9980.
R1 leads in resistance with 10 models, including a psychological level and a 50 day moving average, and Bollinger Upper Band is among the 6 matches for R2. R3 counts Price Channel Indicator Upper Line among its 2 studies. Standing near a 20 day moving average, S2 has found 5 matches. The highest support line sees 4 confirmations, and S3 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and another model.
That's all for Tuesday's Support and Resistance Level Report. Check back in tomorrow when the next one will be available. Goodbye.

Author: dukascopy
Tags: forex Pivots Fibonacci Retracements Demark Tirone Ichimoku
Posted: 23 January 2016
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Support and Resistance