The Weekly technical levels of USD/CHF pair.
Tips :
- R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.
- Pivot lines work well on the sideways markets as the prices are most likely to be located between the R1 and S1 lines.
- Within a strong trend, the price is expected to be lower than the pivot point line and continue moving.
- If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.
Observations :
- If the trend is of an upside character, then the strength of the currency will be defined as follows: 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 trapping and going up or down. If you sell or buy in the long term, you will surely lose your profit.
Overview :
- The USD/CHF pair was calling for the bullish market from the level of 0.8840 last week.
- The level of 0.8840 is representing support 1.
- As it is know, history will probably repeat itself at this level again. Therefore, it will a good sign to buy above 0.8840 with the first target of 0.8895 (the weekly pivot point). It will call for uptrend in order to continue its bullish movement towards 0.8930.
- Stop loss should never exceed your maximum exposure amounts.
- Consequently, the stop loss should be placed below the double bottom at the price of 0.8805.
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 8-11, 2014 . Thanks for your support on Weekly technical levels of USD/CHF for March 8-11, 2014
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