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AUD/USD: Weekly and monthly pivot point and signal – for July 29 – August 03, 2013
July 29, 2013 4:30 pmVideo
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This week the Australian dollar is located around the weekly pivot point of 0.9236. This is a key level for this week. Given that since the opening of the Asian session the pair is showing weakness, like other currencies which are trading against the US dollar. If this level is broken the pair is expected to decline to 0.9048 level. As last week the Aussie was not able to break the 0.9324 level. However, if you look at the second chart below it traced the monthly pivot line. The resistance level is at 0.9347 area, the pair takes more than four weeks operating below this level, so it is more likely that below this level the pair continues with the downward trend in the medium term, to the area of 0.8904, and to the level of 0.8668, second monthly support. We believe that the following signal will be valid for this week.
Signal for July 29 – August 03, 2013
Buy if it closes above 0.9236 with take profit at 0.9343 and 0.9424 (W_R2) and stop loss below 0.92.
Sell if it closes 4H chart below 0.9210 with take profits at 0.9155 and 0.9048, and stop loss is at 0.9330.
_____WEEKLY_____
Weekly – R3 = 0.9531
Weekly – R2 = 0.9424
Weekly – R1 = 0.9343
Weekly Pivot = 0.9236
Weekly – S1 = 0.9155
Weekly – S2 = 0.9048
Weekly – S3 = 0.8967
_____MONTHLY____
Monthly – R3 = 1.0262
Monthly – R2 = 1.0026
Monthly – R1 = 0.9583
Monthly Pivot = 0.9347
Monthly – S1 = 0.8904
Monthly – S2 = 0.8668
Monthly – S3 = 0.8225
If you would like to get this indicator, feel free to contact me via skype: gerardofx or e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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