19.12.201109:52 Forex Analysis & Reviews: EUR/USD: Weekly Technical Levels for December 19th -- 23rd, 2011.

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 19.12.2011 analysis

Weekly Technical Levels:

Exchange Rates 19.12.2011 analysis

Tip (s):

R3 and S3 are good indication for the maximum range for extremely volatile days but can be exceeded occasionally.

Pivot lines work well in sideways markets as prices will most likely range between the R1 and S1 line.

In a strong trend, price will be low through a pivot point line and keep going.

If there is significant news to influence the market price may go straight through R1 or S1 and reach even R2 & R3 or S2 & S3.

Exchange Rates 19.12.2011 analysis

Time Frame: H1.

Drag your Fibonacci retracement levels from the lower to the higher of the last week from 12^nd of December to 16^th of December, 2011 in order to determine low and high price.

Average = (Higher - Lower) / 2
Average = 1.3166

Range was: 442 pips.
The value of 50% Fibonacci retracement levels is: 1.3166.
1.25 will be formed a strong support.
1.37 will be formed a strong resistance.
Volatility is 581.00 so the market has called for a high volatile.
It should be noted that the price has still been trapped between 1.295 and 1.310.
Pivot point will be formed a strong level, it's meaning that the market will call for bullish if the price is above it.

Exchange Rates 19.12.2011 analysis

Observation (s):

If the strength of the trend for pair is an uptrend, then the strength of the currency: EUR is an uptrend and USD is a downtrend.
Most of traders use the Fibonacci retracement to determine accurate psychology level of support and resistance.
Volatility Formulas: Variation = Average * (Higher - Lower).

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.