EUR/USD: weekly and monthly pivot point and signal for July 01 – 06, 2013
July 1, 2013 4:00 pm
The euro is showing uneven performance against the dollar, the fact that it was broken the 1.30 level, but not yet confirmed, now rebounding and presents this right now with a graphic short-term without definite trend, but with a bias slightly upward. If the euro continues this small recovery, it is likely to encounter strong resistance at 1.3111 zone, this is a key level, so we recommend to sell in this area, with objectives to the pivot point of 1.3048, on the other hand , a close on daily charts below 1.3050, it will be time for a drop of the pair to 1.2945 levels. Now, looking at the chart of monthly pivots noticed the monthly pivot is in, 1.3127, which shows that this area is massive resistance, which could imply a fall of the euro in the medium term, until the first monthly support 1.2837. Therefore, we see the following trading signals valid for all this week.
Signals for July 01 – 06, 2013
Sell in case of pullback 1.3111 (W_R1), take profit is at 1.2945 (W_S1) stop loss is above the pivot point of 1.3111.
Buy if close above of 1.3048 (W_PV), take profit is at 1.3111 (W_R1), and 1.3214, stop loss below 1.30.
The euro is showing uneven performance against the dollar, the fact that it was broken the 1.30 level, but not yet confirmed, now rebounding and presents this right now with a graphic short-term without definite trend, but with a bias slightly upward. If the euro continues this small recovery, it is likely to encounter strong resistance at 1.3111 zone, this is a key level, so we recommend to sell in this area, with objectives to the pivot point of 1.3048, on the other hand , a close on daily charts below 1.3050, it will be time for a drop of the pair to 1.2945 levels. Now, looking at the chart of monthly pivots noticed the monthly pivot is in, 1.3127, which shows that this area is massive resistance, which could imply a fall of the euro in the medium term, until the first monthly support 1.2837. Therefore, we see the following trading signals valid for all this week.
Signals for July 01 – 06, 2013
Sell in case of pullback 1.3111 (W_R1), take profit is at 1.2945 (W_S1) stop loss is above the pivot point of 1.3111.
Buy if close above of 1.3048 (W_PV), take profit is at 1.3111 (W_R1), and 1.3214, stop loss below 1.30.
____WEEKLY_______
Weekly – R3 = 1.3277
Weekly – R2 = 1.3214
Weekly – R1 = 1.3111
Weekly Pivot = 1.3048
Weekly – S1 = 1.2945
Weekly – S2 = 1.2882
Weekly – S3 = 1.2779
____MONTHLY____
Monthly – R3 = 1.3759
Monthly – R2 = 1.3588
Monthly – R1 = 1.3298
Monthly Pivot = 1.3127
Monthly – S1 = 1.2837
Monthly – S2 = 1.2666
Monthly – S3 = 1.2376
If you would like to get this indicator, feel free to contact me via skype: gerardofx or email: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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