| Sometimes the value of Daily Pivot Points is abundantly clear |
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| Monday, 08 September 2008 12:40 | |||||||
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Sometimes the value of Daily Pivot Points is abundantly clear. In last night’s example on the EUR/USD price action hit the R2 line around 1.4423. Prices broke above it but never closed above it. This type of You can see that when price moved away from the R2 line it then slide past R1 Daily Pivot Point S1 and is now at the S2 line. The statistics behind this move are even more important. Less than 1% of the time does the price break R2 and then close below S1. For the EUR/USD pair the high actually having a high above R1 and a Low below S1 has only happened 84 times in the last 2604 trading days. In the last 30 days it’s happened twice. So if you are a trader of great volatility then you are in your element. If you are looking for more even markets you should still be on the sidelines.
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| Last Updated on Tuesday, 30 September 2008 16:47 |








Resistance