AUD/USD – Weekly and monthly pivot points and signals, for April 29 – May 04, 2013
April 30, 2013 8:15 am
The Australian dollar is finding support above 1.0278 weekly pivot but cannot overcome the 1.0340 area. If the pair closes the day above this level it is likely the next targets in the second weekly resistance are at 1.0394 and 1.0450 (W_R3). The short-term outlook is bullish for this pair, so if there is a rebound in weekly pivot area, we recommend buying the pair again at low prices with goals in the third weekly resistance. The mentioned outlook will remain bullish till the pair does not lose 1.0270, because if it does, the downward pressures would increase significantly, below 1.0270 we can place our stop loss. Therefore, we consider the following signal will be valid for this week.
Signal for April 29 – May 04, 2013
Buy if it closes above 1.0337 with take profit at 1.0394 and 1.0453 (W_R3), stop loss is below 1.0278 (W_PPV).
Buy if rebound is around 1.0278 with take profit at 1.0337 and 1.0394 (W_R2), stop loss is below 1.0270.
The Australian dollar is finding support above 1.0278 weekly pivot but cannot overcome the 1.0340 area. If the pair closes the day above this level it is likely the next targets in the second weekly resistance are at 1.0394 and 1.0450 (W_R3). The short-term outlook is bullish for this pair, so if there is a rebound in weekly pivot area, we recommend buying the pair again at low prices with goals in the third weekly resistance. The mentioned outlook will remain bullish till the pair does not lose 1.0270, because if it does, the downward pressures would increase significantly, below 1.0270 we can place our stop loss. Therefore, we consider the following signal will be valid for this week.
Signal for April 29 – May 04, 2013
Buy if it closes above 1.0337 with take profit at 1.0394 and 1.0453 (W_R3), stop loss is below 1.0278 (W_PPV).
Buy if rebound is around 1.0278 with take profit at 1.0337 and 1.0394 (W_R2), stop loss is below 1.0270.
_____WEEKLY_____
Weekly – R3 = 1.0453
Weekly – R2 = 1.0394
Weekly – R1 = 1.0337
Weekly Pivot = 1.0278
Weekly – S1 = 1.0221
Weekly – S2 = 1.0162
Weekly – S3 = 1.0105
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_____MONTHLY____
Monthly – R3 = 1.0953
Monthly – R2 = 1.0724
Monthly – R1 = 1.0572
Monthly Pivot = 1.0343
Monthly – S1 = 1.0191
Monthly – S2 = 0.9962
Monthly – S3 = 0.9810
The material has been provided by InstaForex Company – www.instaforex.com
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