1- These levels are strong support and resistance levels on the short /medium term, the market usually respects these levels strongly.
2- If the market rallies into resistance levels, a sell-off is expected.
3- If the market sells off into support levels, a rally up is expected.
4- Overbought Zone: is (50 pips below resistance) + (50 pips above resistance).
5- Oversold Zone: is (50 pips above support) + (50 pips below support).
4- Some levels are valid for several weeks.(It depends on market moves).
5-I highly recommend using divergences techniques, to find possible turning points during the week!
6- Recommended time frame, Daily and below.
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Why people still uuse to read news papers when in this technological
world all iss existing on web?