USD/CHF: Weekly Technical Levels for September 24 - 28, 2012
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Weekly Technical Levels:
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Tip (s): 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.
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Observation (s): 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 is used to determine accurate psychology level of support and resistance, and playing according to in this kind of period. Fibonacci is 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. If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.