EUR/USD - Weekly and Monthly Pivot Points

EUR/USD - Weekly and Monthly Pivot Points and Signals, For November 12 - 17, 2012

The euro fell last week to the second week support and reached 1.2693. It cannot to recover positions. Now the new weekly support is at 1.2642. If the sequence continues downward, the euro is likely to stop at this level. As you can see from the chart the euro is below the 200 day moving average, it has been keeping an uptrend for long time. In view of the new lines of pivots for this week, we can recommend the following signal.

1.2758 and 1.2967 are weekly and monthly pivot points for this week for EUR/USD.

Signals for November 12 - 17, 2012

Buy long if it closes above weekly pivot of 1.2758 (W_PV), take profit at 1.2828 and 1.2944. Stop loss is below weekly support of 1.2642 (W_S1).

Buy if it rebounds around weekly support of 1.2642(W_S1), take profit at 1.2758 and 1.2828 and stop loss is below 1.2642 (W_S1).

____WEEKLY_____

Weekly - R3 = 1.3014

Weekly - R2 = 1.2944

Weekly - R1 = 1.2828

Weekly Pivot = 1.2758

Weekly - S1 = 1.2642

Weekly - S2 = 1.2572

Weekly - S3 = 1.2456  

____MONTHLY____

Monthly - R3 = 1.3466

Monthly - R2 = 1.3303

Monthly - R1 = 1.3130

Monthly Pivot = 1.2967

Monthly - S1 = 1.2794

Monthly - S2 = 1.2631

Monthly - S3 = 1.2458