|EUR/USD Intraday Technical Levels for August 20, 2012|
|NZD/USD: Weekly Technical Levels for August 20 - 24, 2012|
News: 2012-08-20 06:12:21 UTC+00 9 months, 4 days, 20 hours, 10 min. ago
Weekly Technical Levels:
- 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 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.
- In case of breaking news release that may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.
- 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 uses to determine accurate psychology level of support and resistance, and playing according to in this kind of period.
- Fibonacci in a range trader (it is looks like the trend is trapping and going up or down, if you sell or buy for a long term in this period you'll go sure for losing your profit.
- Stop Loss should NEVER exceed your maximum exposure amounts.
- Usually the market has a high volatile, if the last day had a huge volatility.
Mourad El Keddani is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
Analytical expert: Mourad El Keddani
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