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10.09.2012 01:29 PM
NZD/USD: Weekly Technical Levels for September 10 - 14, 2012

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Weekly Technical Levels:

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Tip (s):

 

• R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, although it is possible to pass them through. 

• Pivot lines work well on the sideways markets, as prices will probably 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 is going to continue its movement.

• If the news released 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: NZD is an uptrend and USD 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: [email protected].

Summary
Urgency
Analytic
Mourad El Keddani
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