Long-term review
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Overview:
- According to previous events, we expect a wider range today. Hence, this range will probably start from the level of 1.1233; in order to continue towards the strong resistance at 1.1359. Additionally, the volatility has calculated and found 258.84. Therefore, the market indicates the higher volatility on June 12, 2015. The first strong resistance will set at 1.1359 and the double top has already placed at the point of 1.1466.
Trading recommendations:
- The EUR/USD pair has still moved between 1.1233 and 1.1359.
- Below the level of 1.1466/1.1460, look for further downside with 1.1260 in order to retest the daily pivot point.
- Buy at 1.1175 with the first target at1.3640, it might resume to 1.1359.
- Place a stop loss below the first weekly support at the level of 1.1160.
Observations:
- The price of 1.1466 is representing 100% of Fibonacci retracement levels and the double top.
- The relation between the volatility and the market movements lies in: so, let's say you did not close your position after H1:M30, so after each 15 minutes the volatility will be decreased "volatility - (volatility 40/100)" if you wait more then the trend can go against you at any moment. Because just after this lap of time, there is a probability is that this volatility decreases every 15 minutes.
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