Last week the euro was trying to recover the 1.3303 support level, but could not break the strong resistance of 1.35. This week, according to the table of pivots, it is in the area of downward pressure, as it is below the weekly pivot of 1.3395, therefore this level is key for us. Only if the pair closes the day above the 1.34 level, you can rebuy this pair, on the other hand, below the weekly pivot, you should sell the euro, with short-term objectives of 1.3270 and 1.3181. Therefore, we consider that this signal will have validity for the whole week.
Signals for February 18-23, 2013
Sell in case of close below or pullback to 1.3390 (W_PPV), take profit is at 1.3270, and stop loss is above weekly resistance (W_R1) at 1.3484.
Buy in case of close above 1.3410, take profit is at 1.3484, and 1.3609 and stop loss is below 1.3270 (W_S1).
____WEEKLY_______
Weekly – R3 = 1.3698
Weekly – R2 = 1.3609
Weekly – R1 = 1.3484
Weekly Pivot = 1.3395
Weekly – S1 = 1.3270
Weekly – S2 = 1.3181
Weekly – S3 = 1.3056
If you would like to get this indicator, feel free to contact me via email: gerardo.porras@analytics.instaforex.com
____MONTHLY____
Monthly – R3 = 1.4378
Monthly – R2 = 1.3985
Monthly – R1 = 1.3782
Monthly Pivot = 1.3389
Monthly – S1 = 1.3186
Monthly – S2 = 1.2793
Monthly – S3 = 1.2590
Gerardo Porras is taking part in the “Analyst of the Year” award organized by MT5.com portal. If you like his article, please vote for him.
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| Performed by Gerardo Porras, Analytical expert InstaForex Group © 2007-2013 |
EUR/USD weekly and monthly pivot points and signals for February 18-23, 2013
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