The euro ended November just above 1.30. Although its upward movement does not seem to have much support at the time, it could extend its rise a few more points before starting a new bearish rally. The last early agreement between European leaders on the issue of Greece, gave some air to the single currency, which nevertheless continues to have a short-term downtrend. Therefore, we consider that the following signal will have validity for all this week.
Signals for December 03 - 08, 2012
Sell if it closes below 1.3060 (W_R1), take profit at 1.2964 and 1.2902, and stop loss is above weekly resistance (W_R3) at 1.32.
Sell if it pulls back around weekly resistance of 1.3112 (W_R2), take profit at 1.2902 (W_S1), and stop loss is above (W_R3) at 1.3200.
____WEEKLY_____
Weekly - R3 = 1.3198
Weekly - R2 = 1.3112
Weekly - R1 = 1.3050
Weekly Pivot = 1.2964
Weekly - S1 = 1.2902
Weekly - S2 = 1.2816
Weekly - S3 = 1.2754
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
____MONTHLY____
Monthly - R3 = 1.3490
Monthly - R2 = 1.3258
Monthly - R1 = 1.3123
Monthly Pivot = 1.2891
Monthly - S1 = 1.2756
Monthly - S2 = 1.2524
Monthly - S3 = 1.2389
