Weekly technical levels :
Observations :
- If the trend is upward, then the strength of the currency will be defined as following: USD is in an uptrend and CHF is in a downtrend.
- Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.
- Fibonacci is in a range trade; it looks like the trend is trapped and going up or down. If you sell or buy in the long term, you will surely lose your profit.
- Stop loss should never exceed your maximum exposure amounts.
- As a rule, the market is highly volatile if the prior day had huge volatility.
Notes :
- Major support for March 25, 2014: 1.6570
- Major resistance for March 25, 2014: 1.6853
- We expect a new range about 65 pips today and 133 this week.
- It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.
Technical levels :
Date and Time: 25/03/2014 08:07
Pair: USD/CHF
- Projected high: 0.9108
- Breakout (buy stop): 0.9053
- Strong resistance (sell limit): 0.9023
- Current pivot: 0.8791
- Strong support (buy limit): 0.8558
- Breakout (sell stop): 0.8533
- Projected low: 0.8483
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Weekly technical levels of USD/CHF for March 25-28, 2014 . Thanks for your support on Weekly technical levels of USD/CHF for March 25-28, 2014
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