FX.co ★ EUR/USD weekly and monthly pivot point and signal for July 8-13, 2013

The euro fell on Friday to the level of 1.2806 due to the non-farm payrolls report from the United States stronger than expected. The U.S. added 195,000 jobs during the month of June, and as a result, markets have begun to eliminate the possibility of quantitative easing reduction by the Federal Reserve since September. Only a small pullback to the level of 1.2904 is likely, above this level the pair can take upward moment to the 1.3003 weekly resistance (W_R1), therefore you can buy at current levels, according to the rebound of the pair or wait until the weekly pivot 1.2904 to make a decision to buy or sell. Therefore, we see the following trading signals valid for all this week.

Signals for July 8-13, 2013

Sell in case of pullback 1.2904 (W_R1), take profit is at 1.2731 (W_S1) stop loss is above the pivot point of 1.2904.

Buy if close is above 1.2910 (W_PV), take profit is at 1.3003 (W_R1), and 1.3176, stop loss below 1.29.

____WEEKLY_______
Weekly - R3 = 1.3275
Weekly - R2 = 1.3176
Weekly - R1 = 1.3003
Weekly Pivot = 1.2904
Weekly - S1 = 1.2731
Weekly - S2 = 1.2632
Weekly - S3 = 1.2459

____MONTHLY____

Monthly – R3 = 1.3759
Monthly – R2 = 1.3588
Monthly – R1 = 1.3298
Monthly Pivot = 1.3127
Monthly – S1 = 1.2837
Monthly – S2 = 1.2666
Monthly – S3 = 1.2376

If you would like to get this indicator, feel free to contact me via skype: gerardofx or email: gerardo.porras@analytics.instaforex.com