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#428 (permalink)

09-09-2008, 01:36 PM

ahmedalhoseny ahmedalhoseny is offline

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USDCHF Fib levels

Hello
Here is the daily technical analysis for USDCHF :

The USDCHF advance from 96.47 has reached (and exceeded) the 50% retracement of the decline from 1.2569. The 4th wave of one less degree stretches to 1.1594, which is just above the 61.8% at 1.1453. If the USDCHF is going to roll over, this is the area that it should do so.

And i have one Question about the level ( 1.2569 ) why it is selected as a pivot point !! because i find that there are other 2 more stronger points as a pivot points 1st is (1.3273) and the 2nd is (1.2755) and if we select , and if we apply fib for both 1st and 2nd levels we still need see the price to run about 300 pips ( this area will be matched with 61 for the 1st and slightly above 50% of the second point )!!!
attached here the two pics for franc
regards

Attached Thumbnails

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