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