Weekly & Monthly Market Evaluation
The pivot points are important support and resistance levels. It serves to identify whether the price of the pair declines. Thus, the pivot points may quite successfully serve as input and output indicators. The way the pivot points are operated and the strategy is used depend on the type of an investor.
1.2933 and 1.2843 are weekly and monthly pivot points for this week for EUR/USD.
The euro is located above the weekly pivot point and above the Moving Average of 200 periods.
Accordingly, the pivot points signify the following.
The euro is trading a few pips above the weekly pivot near this level. It is likely to follow an upward move.
Moreover, below the weekly pivot, the bearish pressure can increase to support of 1.2844. It is the last very strong support that keeps the pair in the uptrend. If this pair is broken and the price closes below this level is likely to change the trend in the medium term. In the short term, the euro will remain bullish, a drop below 1.2750 could change the trend.
Signals for October 15 – 20, 2012
Buy long if it closes above weekly pivot at 1.2933, take profit at 1.3042 and 1.3242, and stop-loss is below weekly support of 1.2733 (W_S2).
Buy if it rebounds around the support of 1.2842, take profit at 1.3042 and 1.3242, and stop-loss below 1.2733 (W_S2).
____WEEKLY_____
Weekly – R3 = 1.3242
Weekly – R2 = 1.3133
Weekly – R1 = 1.3042
Weekly Pivot = 1.2933
Weekly – S1 = 1.2842
Weekly – S2 = 1.2733
Weekly – S3 = 1.2642
(click on graph to enlarge)
MONTHLY____
Monthly – R3 = 1.3856
Monthly – R2 = 1.3513
Monthly – R1 = 1.3186
Monthly Pivot = 1.2843
Monthly – S1 = 1.2516
Monthly – S2 = 1.2173
Monthly – S3 = 1.1846
(click on graph to enlarge)
GBP/USD
The pivot points are important support and resistance levels. It serves to identify whether the price of the pair declines. Thus, the pivot points may quite successfully serve as input and output indicators. The way the pivot points are operated and the strategy is used depend on the type of an investor.
1.6063 and 1.6100 are weekly and monthly pivot points for this week for GBP/USD.
The British pound is the weekly pivot level and is above the 200 day moving average periods (blue). Therefore, the pivot points indicate the following.
Once the pair closes the price on the day above 1.6063 the probability of an upward movement weekly resistance 1.6230 increases.
Below this level a fall to 1.5982 could be activated, making it probable that the support (W_S1) has a strong upward bounce that might have to revert to resistance levels of 1.6230 and 1.6316. Therefore, we recommend buying weekly support levels.
Signals for October 15 – 20, 2012
Buy long if it rebounds around 1.5982, take profit at 1.6149 and 1.6230, and stop-loss is below (W_S1).
Buy if it closes above 1.6063 (W_PV), take profit at 1.6230, and stop-loss is 1.6095 (W_S1).
____WEEKLY_____
Weekly – R3 = 1.6316
Weekly – R2 = 1.6230
Weekly – R1 = 1.6149
Weekly Pivot = 1.6063
Weekly – S1 = 1.5982
Weekly – S2 = 1.5896
Weekly – S3 = 1.5815
(click on graph to enlarge)
MONTHLY____
Monthly – R3 = 1.6858
Monthly – R2 = 1.6583
Monthly – R1 = 1.6375
Monthly Pivot = 1.6100
Monthly – S1 = 1.5892
Monthly – S2 = 1.5617
Monthly – S3 = 1.5409
(click on graph to enlarge)
AUD/USD
The pivot points are important support and resistance levels. It serves to identify whether the price of the pair decline. Thus, the pivot points may quite successfully serve as input and output indicators. The way the pivot points are operated and the strategy is used depend on the type of an investor.
1.0225 and 1.0389 are weekly and monthly pivot points for this week for AUD/USD.
The Australian dollar is above the weekly pivot as well as the Moving Average of 200 periods (blue). Therefore, the pivot points show the following.
The fact that the pair is above the weekly pivot increases the likelihood that there is an upward movement until the second weekly resistance of 1.0444.
Moreover, the downward pressure will continue to increase below the weekly pivot, the nearest target is 1.0180. We recommend buying at this level.
Signals for October 15 – 20, 2012
Buy long above weekly pivot at 1.0225 with take profit at 1.0300 and 1.0444, stop-loss is below (W_S1).
Buy if it rebounds around 1.0156 with take profit at 1.0225 and 1.0300, stop-loss is below (W_S1).
_____WEEKLY_____
Weekly – R3 = 1.0444
Weekly – R2 = 1.0369
Weekly – R1 = 1.0300
Weekly Pivot = 1.0225
Weekly – S1 = 1.0156
Weekly – S2 = 1.0081
Weekly – S3 = 1.0012
(click on graph to enlarge)
MONTHLY____
Monthly – R3 = 1.1071
Monthly – R2 = 1.0847
Monthly – R1 = 1.0613
Monthly Pivot = 1.0389
Monthly – S1 = 1.0155
Monthly – S2 = 0.9931
Monthly – S3 = 0.9697
(click on graph to enlarge)
USD/JPY
The pivot points are important support and resistance levels, it serves to identify whether the price of the pair may decline. Thus, the pivot points may quite successfully serve as input and output indicators. The way the pivot points are operated and the strategy is used depend on the type of an investor.
For USD/JPY weekly and monthly pivot points for this week are 78.38 and 78.09 respectively. The Japanese yen is located above the weekly pivot and below the Moving Average of 200 periods (blue). Therefore, taking into account the pivot points, we can conclude the following.
The weekly pivot level 78.38 Now is the nearest support for the Yen. Above expected weekly pivot upward movement to the level of resistance of the third week 79.62.
On the other hand, is likely to have a decline of pair to the weekly pivot happens if we take it as an opportunity to buy at such a low price, with objectives to the last weekly resistance of 79.62.
Signals for 15 – 20 October, 2012
Buy long above 78,81, take profit at 79.19 and 79.62, and stop loss is below (weekly pivot).
Buy if rebound around 78.38, with take profit at 79.62, and stop loss below (weekly pivot).
____WEEKLY_____
Weekly – R3 = 79.62
Weekly – R2 = 79.19
Weekly – R1 = 78.81
Weekly Pivot = 78.38
Weekly – S1 = 78.00
Weekly – S2 = 77.57
Weekly – S3 = 77.19
(click on graph to enlarge)
MONTHLY____
Monthly – R3 = 81.14
Monthly – R2 = 80.18
Monthly – R1 = 79.05
Monthly Pivot = 78.09
Monthly – S1 = 76.96
Monthly – S2 = 76.00
Monthly – S3 = 74.87
(click on graph to enlarge)
Regards,
Andrew E Martinho, Senior Account Manager
please sir i cant understand this words " Buy long if it closes above weekly pivot at 1.2933, take profit at 1.3042 and 1.3242, and stop-loss is below weekly support of 1.2733 (W_S2)." how come ? the weekly frame will close after 20/10 that mean next to this week !! thank you
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