FX.co ★ EUR/USD - Weekly pivot points and signals for January 28 - February 02, 2013

Last week the EUR/USD succeeded in breaking the strong resistance level of 1.34. This week the pair is trading above this level, right at 1.3401; it is the mathematical level of weekly pivot. It is likely that for the next session this pair will find strong support at this level since last week it served as a resistance. According to the table pivots if the pair closes below 1.34, the fall must be quickly up to the level of 1.3323, first weekly support level, as last week this pair was consolidating. Therefore, we consider that the following signal will have validity for the whole week.

Signals for January 28 - February 02, 2013

Sell if it closes bellow 1.3401 (W_PPV), take profit is at 1.3323 and 1.3187 and stop loss is above weekly resistance (W_R1) at 1.3537.

Buy if it rebounds at 1.3401(W_PPV), take profit is at 1.3537 and stop loss is below 1.3323(W_S1).

____WEEKLY_______
Weekly - R3 = 1.3751
Weekly - R2 = 1.3615
Weekly - R1 = 1.3537
Weekly Pivot = 1.3401
Weekly - S1 = 1.3323
Weekly - S2 = 1.3187
Weekly - S3 = 1.3109

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