The euro is slowly recovering after the fall it experienced on Friday. Given that the pair has tried to break the weekly pivot area and has lost upward force, it is likely to fall again accelerate to the area of 1.28. Taking into account that this pair has a strong downtrend, it is recommended to sell below weekly pivot with goals in the first weekly support of 1.2745. Therefore, we recommend the folowing signal for this week.
Signals for May 20 - 25, 2013
Sell in case of trading bellow 1.2887 (W_PPV), take profits are at 1.2745 and 1.2654 (W_S2), and stop loss is above weekly pivot (W_PPV).
Buy if it closes above 1.29 (W_PPV), take profit is at 1.3120 (W_R1), stop loss is below 1.2887 (W_PPV).
____WEEKLY_______
Weekly - R3 = 1.3211
Weekly - R2 = 1.3120
Weekly - R1 = 1.2978
Weekly Pivot = 1.2887
Weekly - S1 = 1.2745
Weekly - S2 = 1.2654
Weekly - S3 = 1.2512
If you would like to get this indicator, feel free to contact me via email: gerardo.porras@analytics.instaforex.com
____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