The Australian dollar is trading above the weekly pivot of 1.0457; last week it attempted to cover the gap, but lacked 10 pips to completely cover it. It is again likely to fall to the 1.0387 weekly support and 1.0377 (last price gap) for the gap to be filled. If the pair closes below the pivot, the chances of a bearish sequence will increase. If this week the pair trades above the 1.0457 level (pivot), we should buy with goals until the second resistance of 1.0620. Therefore, we consider that the following signals will have validity for the whole week.
Signals for January 7-12, 2013
Buy if it rebounds around 1.0457 with take profit at 1.0550 and 1.0620 and stop loss bellow 1.0294 (W_S2).
Sell if it closes bellow 1.0457 with take profit at 1.0387 and 1.0294 and stop loss above 1.0620 (W_R2).
_____WEEKLY_____
Weekly - R3 = 1.0713
Weekly - R2 = 1.0620
Weekly - R1 = 1.0550
Weekly Pivot = 1.0457
Weekly - S1 = 1.0387
Weekly - S2 = 1.0294
Weekly - S3 = 1.0224
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.0768
Monthly - R2 = 1.0675
Monthly - R1 = 1.0529
Monthly Pivot = 1.0436
Monthly - S1 = 1.0290
Monthly - S2 = 1.0197
Monthly - S3 = 1.0051
