NZD/USD: Weekly technical levels for December 16-20, 2013 2013-12-15 Weekly technical levels: Note: R3 and S3 are a good indication of the maximum range for extremely volatile days, but can be exceeded occasionally. Pivot (PP) lines work well on sideways markets, as prices most likely range between the R1 and S1 line. In a strong trend, the price will be lower than a pivot point line and keep going. If there is significant news to influence on the market, the price may go straight through R1 or S1 and reach even R2 and R3 or S2 and S3. In the chart: PP is a Pivot Point. S is Support. R is Resistance. The close of the last week at New York session. USD/CHF weekly technical levels for December 16-20, 2013 2013-12-15 Weekly technical levels: Notes: Support: 0.8840 Resistance: 0.8950 New range: 110 pips. Pivot points general overview: R3 and S3 are considered to be 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 continue the movement. If the breaking news released affects the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3. Observations: If the trend is buoyant, 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 trading range; it looks like the trend is trapping 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 last day had huge volatility. GBP/USD: Weekly technical levels for December 16-20, 2013 2013-12-15 Weekly technical levels: Forecast: GBP/USD: According to the previous events, the price has still been trapped between 1.6340 and 1.6280. Buy above 1.6220 with the first target of 1.6340, it might resume to 1.6225 if the trend will be able to break the weekly pivot point at 1.6340. Pivot points general overview: R3 and S3 are considered to be 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 continue the movement. If the breaking news released affects the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3. 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 trapping and going up or down. If you sell or buy for a long term in this period, 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 last day had huge volatility. EUR/USD: Weekly technical levels for December 16-20, 2013 2013-12-15 Weekly technical levels: Trading recommendations: EUR/USD: According to the previous events, the price has still been trapped between 1.3745 and 1.3703. Buy above 1.3630 with target at 1.3733, then 1.38. Below 1.3810, look for further downside with the first target of 1.3766, then 1.3686. Stop losses should be placed above 1.3840 (for short positions) and set below 1.3605 (in case of buying at 1.3630). Notes: If the trend is ascending, then the strength of the currency will be defined as following: USD is in uptrend and CHF is in 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 trading range; it looks like the trend is trapping 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 last day had huge volatility. USD/JPY intraday technical levels for December 16, 2013 2013-12-15 During the FOMC meeting, the market participants will be cautious about opening positions, this issue will make the market move in a ranging situation before the FOMC meeting; Japan today will release some data like Tankan Manufacturing Index, Tankan Non-Manufacturing Index; and the US will only release some news such as US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, US-Industrial Production m/m, so today the USD/JPY will move with low to medium volatility. TODAYs TECHNICAL LEVELS: Resistance. 3 : 103.48. Resistance. 2 : 103.28. Resistance. 1 : 103.08. Support. 1 : 102.83. Support. 2 : 102.63. Support. 3 : 102.42. DESCRIPTION: Please, pay attention to the levels of support 3 (102.42) and resistance 3 (103.48). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Posted on: Mon, 16 Dec 2013 09:17:20 +0000
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