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Wednesday Support and Resistance Levels – November 08, 2017

Jack William Everitt

Good morning, traders, the team is here with another Support and Resistance Level Report.

Euro/Dollar has the closest levels of 1 1620 in resistance and 1 1590 in support.

The lowest resistance line sees 16 confirmations, and R2 is a 100 day moving average with 3 models. A 50 day moving average is among the 2 studies for R3. S2 counts Price Channel Indicator Lower Line among its 7 technicals, and the highest support line has found 5 matches. S3 is a 150 day moving average with 2 models.

The Cable has been moving in waves, but it now stands between R1 of 1 3180 and S1 of 1 3140. Standing near a 20 day moving average, R1 sees 6 confirmations. R3 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line and 2 other studies, and R2 is a 50 day moving average with 2 models. S1 leads in support with 7 technicals, and S3 counts Price Channel Indicator Lower Line among its 5 matches. S2 is a 100 day moving average with 4 studies. Dollar/Yen is trading in the range limited by R1 of 114 and S1 of 113 70.

R1 is the most confirmed resistance line with 20 studies, while R2 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band, a 6 month high and 3 other models. R3 is a psychological level with 3 confirmations. The highest support line has found 7 matches, and S2 is a 20 day moving average with 6 studies. Standing at a 50 day moving average, S3 sees 2 confirmations.

And Dollar/Swiss Franc is still trading below R1 of 1 and above S1 of 0 9970. R1 is a major psychological level with 19 technicals, and Price Channel Indicator Upper Line is among the 6 studies for R2. R3 is confirmed by Bollinger Upper Band, a 6 month high and 3 other models. S1 leads in support with 12 models, while the lower two lines have found 2 matches each, including a 20 day moving average for S2 and a 150 day moving average for S3.

This article was originally posted on FX Empire

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