EUR/USD – Weekly and monthly pivot points and signals, for May 06 – 11, 2013
May 6, 2013 4:00 pm
The euro is trading below 1.3129 weekly pivot. At the moment it is trading at 1.3107. Given that this pair could not overcome the 1.3129 area, it is likely that for the next few hours the pair falls to 1.3015 first weekly support, key level. If the price breaks the 1.3015 area, it is likely to fall to the first support of 1.2918. On the other hand, a close on daily chart above 1.3129, will give the euro a bullish momentum, at least until the 1.3226 area.
Signals for May 06 – 11, 2013
Sell in case of trading bellow 1.3129 (W_PPV), take profits are at 1.3015 and 1.2918 (W_S2), and stop loss is above weekly pivot (W_PPV).
Buy if it closes above 1.3129 (W_PPV), take profit is at 1.3226 (W_R1), stop loss is below 1.31.
The euro is trading below 1.3129 weekly pivot. At the moment it is trading at 1.3107. Given that this pair could not overcome the 1.3129 area, it is likely that for the next few hours the pair falls to 1.3015 first weekly support, key level. If the price breaks the 1.3015 area, it is likely to fall to the first support of 1.2918. On the other hand, a close on daily chart above 1.3129, will give the euro a bullish momentum, at least until the 1.3226 area.
Signals for May 06 – 11, 2013
Sell in case of trading bellow 1.3129 (W_PPV), take profits are at 1.3015 and 1.2918 (W_S2), and stop loss is above weekly pivot (W_PPV).
Buy if it closes above 1.3129 (W_PPV), take profit is at 1.3226 (W_R1), stop loss is below 1.31.
____WEEKLY_______
Weekly – R3 = 1.3437
Weekly – R2 = 1.3340
Weekly – R1 = 1.3226
Weekly Pivot = 1.3129
Weekly – S1 = 1.3015
Weekly – S2 = 1.2918
Weekly – S3 = 1.2804
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____MONTHLY____
Monthly – R3 = 1.3786
Monthly – R2 = 1.3494
Monthly – R1 = 1.3330
Monthly Pivot = 1.3038
Monthly – S1 = 1.2874
Monthly – S2 = 1.2582
Monthly – S3 = 1.2418
The material has been provided by InstaForex Company – www.instaforex.com
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