Weekly technical levels:
Tips:
- If the trend is of an upside character, then the strength of the currency will be defined as follows: NZD is an uptrend and USD is 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.
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
