FX.co ★ EUR/USD - Weekly and Monthly Pivot Points and Signals, For November 19 - 24, 2012

Last week the euro found a bottom above the first support weekly 1.2643. Hence, it managed to bounce. Now it is above the weekly pivot and significantly below the 200 day moving average periods. If the pair overcomes this above 1.2809 level, it will totally change the downtrend. The euro could again resume its uptrend, below 1.2830 the downward pressure will continue to increase. Thus, you can sell below this level. In view of the new lines of pivots for this week, we can recommend the following signal.

1.2734 and 1.2967 are weekly and monthly pivot points for this week for EUR/USD.

Signals for November 19 - 24, 2012

Buy long if it closes above weekly resistance of 1.2809 (W_R1), take profit at 1.2875 and 1.2950. Stop loss is below weekly support (W_S1) at 1.2630.

Buy if it rebounds around weekly support of 1.2670 (W_S1), take profit at 1.2875 and 1.2950, and stop loss is below (W_S1) at 1.2630.

Sell if pullback is at 1.2830, with take profit at 1.2680, stop loss above 1.2875 (W_R2).

____WEEKLY_____
Weekly - R3 = 1.2950
Weekly - R2 = 1.2875
Weekly - R1 = 1.2809
Weekly Pivot = 1.2734
Weekly - S1 = 1.2668
Weekly - S2 = 1.2593
Weekly - S3 = 1.2527

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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