FX.co ★ EUR/USD - Weekly and monthly pivot points and signals, for February 11 - 16, 2013

Last week the euro fell to lows of 1.3353. It found support above the crossing of the long-term bearish line. The fact that it could not break this level is a sign that the pair is preparing for another bullish wave in the medium term. This morning the pair is trading below the weekly pivot, which is 1.3458. This level will offer resistance. If it is exceeded, expect the pair to go higher, up to 1.3564 weekly resistance and to the maximum 1.3705, strong resistance level. Therefore, we recommend observing the key level for this week at 1.3458. Therefore, we consider that the following signal will have validity for the whole week.

Signals for February 11 - 16, 2013

Sell if pullback is bellow 1.3458 (W_PPV), take profit is at 1.3259, and stop loss is above weekly resistance (W_R1) at 1.3564.

Buy if close is above 1.3460 (W_PPV), take profit is at 1.3550, and 1.3700 and stop loss is below 1.3259 (W_S1).

____WEEKLY_______
Weekly - R3 = 1.3869
Weekly - R2 = 1.3763
Weekly - R1 = 1.3564
Weekly Pivot = 1.3458
Weekly - S1 = 1.3259
Weekly - S2 = 1.3153
Weekly - S3 = 1.2954

If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com

____MONTHLY____

Monthly – R3 = 1.4378

Monthly – R2 = 1.3985

Monthly – R1 = 1.3782

Monthly Pivot = 1.3389

Monthly – S1 = 1.3186

Monthly – S2 = 1.2793

Monthly – S3 = 1.2590