03.11.201110:02 Forex Analysis & Reviews: EUR/USD: Numerical Analysis (R3 & S3 Formulas).

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Use time frame of H1 or/and H4 (It's more precise) to determine the Resistance 3 (R3) and the Support 3 (S3).

Tip: For determining accurate Resistances and Supports, it should be used an average time frame (H1 or/and H4) aswell it also should applied Fractals' indicator.

Steps: on your MetaTrader4 (MT4), you can click on the 3rd tap: Insert / Indicators / Bill Williams / Fractals.

Exchange Rates 03.11.2011 analysis

Apply Formulas:

R3: Resistance 3 = 1.4020.
S3: Support 3 = 1.3450.

Function = (R3 - (R3 - S3)) * 38%

The market will indicate a bearish opportunity on level of: (R3 - (Function / 100)) = 1.3977.

The market will indicate a bullish opportunity on level of: (S3 + (Function / 100)) = 1.3503.

It should be noted that:

(Resistance.3 + Support.3) / 2 = 1.3740 and Pivot Point = (High + Low + Close) / 3 = 1.3736.

Therefore, pivot point will be formed a period of tight sideway range market at this level, so it is of the wisdom to be neutral at 1.3740 and don't open any positions.

Exchange Rates 03.11.2011 analysis

Trading Recommendations:

According to previous events, the price has still been trapped between 1.35 and 1.4.

Buy above 1.35 with a first target of 1.3740, it might resume to 1.39.
Below 1.4 look for further downside with 1.38 and 1.3740 targets.

Exchange Rates 03.11.2011 analysis

Observation (s):

Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.
Stop Loss should NEVER exceed your maximum exposure amounts.

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