Last week the euro managed to break the downtrend line. Now it is above this line, above the weekly pivot, and above the 200 day moving average periods. It increases the probability of upward movement extending to the key level of 1.3063 and 1.3153. Moreover, given that last week the euro gained against the U.S. dollar it is likely that the buyers begin to take profits and have a downward pressure that may extend to the weekly support level 1.2810, we recommend buying at this level.
1.2900 and 1.2967 are weekly and monthly pivot points for this week for EUR/USD.
Signals for November 26 - 30, 2012
Buy long if it rebounds around on the weekly pivot of 1.2900 (W_R1), take profit at 1.3063, and stop loss is below weekly support (W_S1) at 1.2647.
Buy if it rebounds around weekly support of 1.2810 (W_S1), take profit at 1.3063 (W_R1), and stop loss is below (W_S1) at 1.2647.
____WEEKLY_____
Weekly - R3 = 1.3316
Weekly - R2 = 1.3153
Weekly - R1 = 1.3063
Weekly Pivot = 1.2900
Weekly - S1 = 1.2810
Weekly - S2 = 1.2647
Weekly - S3 = 1.2557
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____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