Weekly Technical Levels:

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 the 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.

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 an accurate psychological level of support and resistance. The period of time should be taken into account.
• Fibonacci is in a range trader; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you'll lose your profit.
• Stop Loss should NEVER exceed your maximum exposure amounts.
• As a rule, the market has a high volatile, if the last day had a huge volatility.

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