Support and Resistance

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You're watching the Support and Resistance Level Report. Let's see how our in-house model tests out this Tuesday.
Euro/Dollar has seen a decline, which leaves it between R1 of 1 0850 and S1 of 1 0810.
Standing at a 20 day moving average, R2 is well confirmed with 14 studies, and R1 counts a 50 day moving average among its 4 models. Bollinger Upper Band is among the 2 matches for R3. S3 is supported by Price Channel Indicator Lower Line, a 6 month low and 2 other models. S1 counts Bollinger Lower Band among its 2 studies, and the second line has found a single match.
Next up is the Pound/Dollar, which is trading in the range limited by R1 of 1 4730 and S1 of 1 4670.
R2 is the most confirmed resistance line with 8 models. R1 is a 6 month low with 7 matches, and R3 is a 20 day moving average with 2 studies. Standing at a 4 year low, S2 sees 4 confirmations, and S1 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and another model. S3 is a psychological level with 2 matches.
Dollar/Yen has the closest levels of 120 in resistance and 119 30 in support.
R2 leads in resistance with 12 studies, and R1 is a major psychological level with 4 models. Standing near a 150 day moving average, R3 sees 2 confirmations. Price Channel Indicator Lower Line is among the 3 studies for S2, and S1 counts Bollinger Lower Band among its 2 matches. A 6 month low is the only confirmation for S3.
And Dollar/Swiss Franc finds itself below R1 of 1 0030 and above S1 of 1.
Standing at a 4 year high, R3 sees 5 confirmations. Bollinger Upper Band is among the 3 studies for R1, and R2 counts Price Channel Indicator Upper Line as its only match. S2 counts a 20 day moving average among its 7 studies, and S1 has found 6 matches, including a psychological level and a 50 day moving average. S3 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other models.
That concludes the Support and Resistance Level Report for Tuesday. Check back in tomorrow when the next report 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