|EUR/USD: Intraday Technical Analysis and Trading Recommendations for July 10,...|
|EUR/USD - Weekly and Monthly Pivot Points for July 9 - 13, 2012|
The pivot point itself (PV) is the support / resistance primary. This means that major share price movements are marked by this level. Support and resistance can also generate more interesting movements around them.
The pivot points can be used for two purposes: either to identify the prevailing trend in the market or to denote market entry and exit points.
1) If the price set by the pivot point is broken in an upward motion, the market is bullish and, conversely, if the pivot point is broken in a downward motion, the market is bearish.
2) They can provide points of market entry and exit that can be quite useful for trading strategy. For example, a limit sell order can be placed on a level support for open if this support is broken and can put the stop loss for this order in one of the resistances.
Signal For 09 - 13 July
Sell Short 1.5580 with Take Profit at 1.5392 and with Stop Loss at 1.5630.
Weekly - R3 = 1.5914
Weekly - R2 = 1.5817
Weekly - R1 = 1.5653
Weekly Pivot = 1.5556
Weekly - S1 = 1.5392
Weekly - S2 = 1.5295
Weekly - S3 = 1.5131
Monthly - R3 = 1.6408
Monthly - R2 = 1.6092
Monthly - R1 = 1.5998
Monthly Pivot = 1.5582
Monthly - S1 = 1.5388
Monthly - S2 = 1.5072
Monthly - S3 = 1.4878
If you would like to get this indicator, feel free to adress me via e-mail: email@example.com
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Analytical expert: Gerardo Porras Palomino
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