2012/11/18
EUR/USD - Weekly and Monthly Pivot Points and Signals, For November 12 - 17, 2012
The euro fell last week to the second week support and reached 1.2693. It cannot to recover positions. Now the new weekly support is at 1.2642. If the sequence continues downward, the euro is likely to stop at this level. As you can see from the chart the euro is below the 200 day moving average, it has been keeping an uptrend for long time. In view of the new lines of pivots for this week, we can recommend the following signal.
1.2758 and 1.2967 are weekly and monthly pivot points for this week for EUR/USD.
Signals for November 12 - 17, 2012
Buy long if it closes above weekly pivot of 1.2758 (W_PV), take profit at 1.2828 and 1.2944. Stop loss is below weekly support of 1.2642 (W_S1).
Buy if it rebounds around weekly support of 1.2642(W_S1), take profit at 1.2758 and 1.2828 and stop loss is below 1.2642 (W_S1).
____WEEKLY_____
Weekly - R3 = 1.3014
Weekly - R2 = 1.2944
Weekly - R1 = 1.2828
Weekly Pivot = 1.2758
Weekly - S1 = 1.2642
Weekly - S2 = 1.2572
Weekly - S3 = 1.2456
____MONTHLY____
Monthly - R3 = 1.3466
Monthly - R2 = 1.3303
Monthly - R1 = 1.3130
Monthly Pivot = 1.2967
Monthly - S1 = 1.2794
Monthly - S2 = 1.2631
Monthly - S3 = 1.2458
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