Weekly and Monthly Pivot Points and signals- For 20 - 24 August , 2012

Hello Hendra!

This is Paul with the Weekly and Monthly Pivot Points and signals- For 20 - 24 August

EUR/USD

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 EUR/USD are: 1.2324 weekly; 1.2342 monthly.

The euro is located below the weekly pivot point and below the Moving Average of 200 periods.

Accordingly, the pivot points signify the following.

A daily close above the pivot point of 1.2324 can increase the probability of a rise to 1.2454 weekly resistance (W_R2). On the other hand, a close below the weekly pivot point will initiate a decline which could continue until 1.2264 (W_S1) and 1.2194 (W_S2). It is possible that at that level the pair may find a strong rebound.

Signal For 20 - 24 August 2012

Bearish Strategy

Sell short below 1.2324, take profit at 1.2264 and 1.2190, Stop Loss is above weekly pivot of 1.2324.

Bullish Strategy

Buy long above 1.2340, take profit 1.2394 and 1.2454, Stop Loss is below weekly pivot of 1.2324.

____WEEKLY_____

Weekly - R3 = 1.2524

Weekly - R2 = 1.2454

Weekly - R1 = 1.2394

Weekly Pivot = 1.2324

Weekly - S1 = 1.2264

Weekly - S2 = 1.2194

Weekly - S3 = 1.2134

  ____MONTHLY______

Monthly - R3 = 1.3274

Monthly - R2 = 1.2977

Monthly - R1 = 1.2639

Monthly Pivot = 1.2342

Monthly - S1 = 1.2004

Monthly - S2 = 1.1707

Monthly - S3 = 1.1369

GBP/USD

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 GBP/USD are: 1.5693 weekly; 1.5582 monthly.

The British pound is located near the pivot weekly and below the Moving Average of 200 periods (blue). Therefore, the pivot points indicate the following:

A daily close below the weekly pivot increases the downward pressure. On the other hand, it is possible that the pair will try to break 1.5749 resistance again, so we recommend selling only if the pair fails in the attempt to exceed that level.

Signal For 20 - 24 August 2012

Sell short at 1.5740 or sell below 1.5693, take profit at 1.56.40 and 1.5585, Stop Loss is above weekly resistance of 1.5749.

____WEEKLY_____

Weekly - R3 = 1.5858

Weekly - R2 = 1.5802

Weekly - R1 = 1.5749

Weekly Pivot = 1.5693

Weekly - S1 = 1.5640

Weekly - S2 = 1.5584

Weekly - S3 = 1.5531

_____MONTHLY____

Monthly - R3 = 1.6210

Monthly - R2 = 1.5989

Monthly - R1 = 1.5834

Monthly Pivot = 1.5613

Monthly - S1 = 1.5458

Monthly - S2 = 1.5237

Monthly - S3 = 1.5082

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: 1.0467 weekly; 1.0379 monthly.

The Australian dollar is below the pivot weekly and above the Moving Average of 200 periods (blue). Therefore, the pivot points show the following.

The weekly pivot level of 1.0467 serves as resistance, a close above this level can change the downtrend with objectives to the resistance of weekly (W_R2) strong level of 1.0630.

On the other hand, downward pressure will continue to increase below the weekly pivot which aims at the 200 day moving average period (blue) near the second weekly support at 1.0304 (W_S2).

Signal For 20 - 24 August 2012

Sell short at 1.0535 or sell below 1.0467 with take profit at 1.0362 and 1.0304, Stop Loss at 1.0630

 _____WEEKLY_____

Weekly - R3 = 1.0688

Weekly - R2 = 1.0630

Weekly - R1 = 1.0525

Weekly Pivot = 1.0467

Weekly - S1 = 1.0362

Weekly - S2 = 1.0304

Weekly - S3 = 1.0199

  _____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 

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: 79.09 weekly; 79.35 monthly.

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

The level of 79.09 (Pivot) is the weekly pivot, the past few weeks the pair was trading below this level, there is possible a correction to the pivot, which now serve as support, therefore, there can be a good buying opportunity at this level. As the upward trend has started, the pair will have a strong resistance to be overcome at 80.03 (W_R1) where the pair is coming out of the downward pressure. A break of the first weekly resistance of 80.03 could be extended up to 81.45 (W_R3).

Signal For 20 - 24 August 2012

Buy long at 79.09, take profit at 80.03, Stop Loss bellow weekly Pivot of 79.09.

____WEEKLY_____

Weekly - R3 = 81.45

Weekly - R2 = 80.51

Weekly - R1 = 80.03

Weekly Pivot = 79.09

Weekly - S1 = 78.61

Weekly - S2 = 77.67

Weekly - S3 = 77.19

 ____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