Weekly and Monthly Pivot Points and signals for August 13 - 17, 2012

Hello Hendra!

This is Paul with the weekly strategy for August 13 - 17, 2012

USD/JPY

The Pivot Point (PPV) is used as support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for USD/JPY are: 78.39 weekly; 79.35 monthly.

The Japanese yen is located below the weekly pivot and bellow the Moving Average of 200 periods (blue). Therefore, taking into account the pivot points, we can conclude the following.

The price level is approaching the pivot; a close above this level may be the beginning of the upward trend until 79.04 weekly resistance R2.

Furthermore, it is possible that at the support level of 77.99 the pair can find a rebound towards 78.64.

Signal For 13 - 17 August 2012

Buy long above 78.39, take profit at 79.04, Stop Loss bellow weekly support of 77.99.

 ____WEEKLY_____

Weekly - R3 = 79.29

Weekly - R2 = 79.04

Weekly - R1 = 78.64

Weekly Pivot = 78.39

Weekly - S1 = 77.99

Weekly - S2 = 77.74

Weekly - S3 = 77.34

 ____MONTHLY____

Monthly - R3 = 84.64

Monthly - R2 = 80.86

Monthly - R1 = 79.49

Monthly Pivot = 78.71

Monthly - S1 = 77.34

Monthly - S2 = 76.56

Monthly - S3 = 75.19

AUD/USD

The Pivot Point (PPV) can serve well as both support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for AUD/USD are: 1.0561 weekly; 1.0379 monthly.

The Australian dollar is above the pivot weekly and the Moving Average of 200 periods (blue).

Therefore, the pivot points show the following.

The weekly resistance level of 1.0626 has a very strong resistance. Last week the pair reached the 1.0610 level near the resistance of 1.0626 and decreased afterwards. In case the pair is overbought, is possible to enter a future sale in the weekly R1 level with weekly support targets until 1.0445 (W_S2).

Signal For 13 - 17 August 2012

Sell short 1.0590, Take Profit at 1.0445, Stop Loss at 1.0630

_____WEEKLY_____

Weekly - R3 = 1.0742

Weekly - R2 = 1.0677

Weekly - R1 = 1.0626

Weekly Pivot = 1.0561

Weekly - S1 = 1.0510

Weekly - S2 = 1.0445

Weekly - S3 = 1.0394

 _____MONTHLY____

Monthly - R3 = 1.1098

Monthly - R2 = 1.0817

Monthly - R1 = 1.0660

Monthly Pivot = 1.0379

Monthly - S1 = 1.0222

Monthly - S2 = 0.9941

Monthly - S3 = 0.9784