EUR/USD: Weekly and monthly pivot point and signal – for June 17 – 22, 2013
June 17, 2013 4:00 pm
In the last four sessions the EUR/USD pair remained above the level of 1.3304 which coincides with the line of the weekly pivot. Given that it is showing signs of weakness, it is likely that this area will have bullish momentum to the nearest resistance of 1.3431. On the other hand, a daily close below 1.3304 will be the beginning of a change in trend, with bearish implications to the level of 1.3092. This week will be key to the trend of this pair, because all markets are very attentive and are waiting for Wednesday, when the Fed completes its monetary policy meeting. It is expected the Federal Reserve Chairman Ben Bernanke announces when the Fed slows asset purchasing program. We therefore recommend extreme caution and operate at low risk, consider pivots levels for decision-making. Therefore, we recommend the following trading signals that will be valid for all this week.
Signals for June 17 – 22, 2013
Sell in case of trading bellow 1.3304 (W_PPV), take profit is at 1.3219 and 1.3092 (W_S1) and stop loss is above the first resistance of 1.3431.
Buy if rebound is around 1.3304 (W_PPV), take profit is at 1.3431 (W_R1), and stop loss is below 1.3260.
In the last four sessions the EUR/USD pair remained above the level of 1.3304 which coincides with the line of the weekly pivot. Given that it is showing signs of weakness, it is likely that this area will have bullish momentum to the nearest resistance of 1.3431. On the other hand, a daily close below 1.3304 will be the beginning of a change in trend, with bearish implications to the level of 1.3092. This week will be key to the trend of this pair, because all markets are very attentive and are waiting for Wednesday, when the Fed completes its monetary policy meeting. It is expected the Federal Reserve Chairman Ben Bernanke announces when the Fed slows asset purchasing program. We therefore recommend extreme caution and operate at low risk, consider pivots levels for decision-making. Therefore, we recommend the following trading signals that will be valid for all this week.
Signals for June 17 – 22, 2013
Sell in case of trading bellow 1.3304 (W_PPV), take profit is at 1.3219 and 1.3092 (W_S1) and stop loss is above the first resistance of 1.3431.
Buy if rebound is around 1.3304 (W_PPV), take profit is at 1.3431 (W_R1), and stop loss is below 1.3260.
____WEEKLY_______
Weekly – R3 = 1.3643
Weekly – R2 = 1.3516
Weekly – R1 = 1.3431
Weekly Pivot = 1.3304
Weekly – S1 = 1.3219
Weekly – S2 = 1.3092
Weekly – S3 = 1.3007
____MONTHLY____
Monthly – R3 = 1.3674
Monthly – R2 = 1.3458
Monthly – R1 = 1.3227
Monthly Pivot = 1.3011
Monthly – S1 = 1.2780
Monthly – S2 = 1.2564
Monthly – S3 = 1.2333
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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