USD/CHF: Weekly Technical Levels for July 23 - 27, 2012

Weekly Technical Levels:

Tip (s):

 

R3 and S3 can be 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 are most will probably be located between the R1 and S1 line.
Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.
In case of the 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.


Observation (s):

  • If the trend is of upside character, then the strength of the currency will be defined as following: USD is an uptrend and CHF is a downtrend.
  • Most of the traders use the Fibonacci retracement to determine accurately the psychological support and resistance levels.

 

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.


Performed by Мурад Эль Кеддани, Analytical expert
InstaForex Companies Group © 2007-2011

Mourad EL KEDDANI
Mourad EL KEDDANI
Was born in Oujda, Morocco. Currently lives in Belgium. In 2003 obtained B.S. in Experimental Sciences. In 2007 obtained a graduate diploma at Institut Marocain Specialise en Informatique Applique (IMSIA), specialty - Software Engineering Analyst. In 2007-2009 worked as teacher of computer services and trainer in a professional school specializing in computer technologies and accounting. In 2005 started Forex trading. Authored articles and analytical reviews on Forex market on Forex websites and forums. Since 2008 performs Forex market research, and develops and implements his own trading strategies of Forex analysis (especially in Forex Research & Analysis, Currency Forecast, and Recommendations and Analysis).
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Analyst Portfolio
Types of Analysis: Fundamental analysis , Technical analysis , Forecast
Experience: 6 years
 Analytical Credo: Numerical analysis: Probabilities, equations and techniques of applying Fibonacci levels. And Classical analysis: Breakout strategy and trend indicators.