Friday Support and Resistance Levels – October 20, 2017
Good morning traders, the team is here with this week’s last Support and Resistance Level Report.
Euro/Dollar has lost some ground and now stands below R1 of 1 1830 and above S1 of 1 18. The lowest resistance line has found 5 matches, and Bollinger Upper Band is among the 3 models for R2.
R3 is confirmed by Price Channel Indicator Upper Line and another technical. Standing near a 20 day moving average, S1 is well supported with 12 studies. S2 has found 3 matches, including Bollinger Lower Band and Price Channel Indicator Lower Line, and S3 is a 100 day moving average with 2 studies.
Pound/Dollar is down as well, currently trading in the range limited by R1 of 1 3130 and S1 of 1 3090. Standing at a 50 day moving average, R2 sees 5 confirmations, and R3 is a 20 day moving average with 4 technicals. The lowest resistance has found 3 matches. S2 is confirmed by Price Channel Indicator Lower Line, Bollinger Lower Band and a 100 day moving average, and the other two support lines have found 2 matches each. S3 is a psychological level.
Dollar/Yen has rebounded and now finds itself between R1 of 113 40 and S1 of 113. R2 is a 6 month high with 3 confirmations, and Price Channel Indicator Upper Line is among the 2 models for R1. R3 counts a psychological level as its only match. Standing at a 20 day moving average, S2 sees 9 confirmations, and the highest support line has found 7 matches. S3 is backed up by Price Channel Indicator Lower Line, a 150 day moving average and 2 other studies.
And Dollar/Swiss Franc has the closest levels of 0 9820 in resistance and 0 9790 in support. Bollinger Upper Band is among the 5 models for R1, and R3 is a major psychological level with 3 studies. The second line sees a single confirmation. S2 is well confirmed with 16 models, including a 150 day moving average, and the highest support line has found 8 matches. S3 is supported by Bollinger Lower Band, a 100 day moving average and 2 other studies.
And that’s how our in-house model tests out this Friday.
This article was originally posted on FX Empire
