|NZD/USD: Weekly Technical Levels for August 20 - 24, 2012|
|EUR/USD: Weekly Technical Levels for August 20 - 24, 2012|
Weekly Technical Levels:
• R3 and S3 are regarded as 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 will continue the movement.
• In case of the breaking news release which 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: EUR is an uptrend and USD 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.
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Analytical expert: Mourad El Keddani
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