The EUR/USD pair has formed a double top. This week it has set the first resistance of 1.3395. However, the pair is trading below the weekly pivot of 1.3326. The previous session on Friday for this pair was bearish with a small recovery which is a key point of negotiation. We must be attentive to this level, below this level the pair may continue falling until the third week of 1.3101 support. On the other hand, above the pivot point, the pair should close above 1.3410; it will be a bullish sign. Therefore, we consider that the following signal will have validity for the whole week.
Signals for January 21 - 26, 2013
Sell if it closes bellow 1.3326 (W_PPV), take profit is at 1.3101 and stop loss is above weekly resistance (W_R1) at 1.3395.
____WEEKLY_______
Weekly - R3 = 1.3542
Weekly - R2 = 1.3473
Weekly - R1 = 1.3395
Weekly Pivot = 1.3326
Weekly - S1 = 1.3248
Weekly - S2 = 1.3179
Weekly - S3 = 1.3101
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
____MONTHLY____
Monthly – R3 = 1.3810
Monthly – R2 = 1.3559
Monthly – R1 = 1.3377
Monthly Pivot = 1.3126
Monthly – S1 = 1.2944
Monthly – S2 = 1.2693
Monthly – S3 = 1.2511