Weekly Technical Levels:
Tip (s):
• R3 and S3 can be both regarded as clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.
• Pivot lines can be applied well on the sideways markets, as the prices will probably be located between R1 and S1 lines.
• Within a strong trend, the price is expected to be lower than the pivot point line and will continue the movement.
• If the breaking news may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.
Observation (s):
• If the trend is of an upside character, then the strength of the currency will be defined as following: USD is an uptrend and CHF is a downtrend.
• Fibonacci retracement is used to determine accurate psychological level of support and resistance. The period of time should be taken into account.
• Fibonacci is in a range trader; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you'll lose your profit.
• Stop Loss should NEVER exceed your maximum exposure amounts.
• As a rule, the market has a high volatile if the last day had a huge volatility.
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via USD/CHF: Weekly Technical Levels for October 15 - 19, 2012 . Thanks for your support on USD/CHF: Weekly Technical Levels for October 15 - 19, 2012
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