Last week the Australian dollar peaked 1.0598, a level of 14 September 2012. This week, it is part of a correction downward; it is likely try to break the 1.0599 level (W_R1), which according to the table pivots is the first weekly resistance. Above this level the way is free to the 1.0730 level. On the other hand, below the level of 1.0533 the pair can fall to the level of 1.0402, the second weekly support. This pair has a very strong upward trend; all reversal should be considered as an opportunity to purchase the par. Therefore, we consider that the following signals will have validity for the whole week.
Signals for January 14 -19, 2013
Buy if it closes above 1.0600 with take profit at 1.0730 and stop loss bellow 1.0533 (W_PPV).
Sell if it pulls back to 1.0599 with take profit at 1.0533 and 1.0402, stop loss is above 1.0620.
_____WEEKLY_____
Weekly - R3 = 1.0730
Weekly - R2 = 1.0664
Weekly - R1 = 1.0599
Weekly Pivot = 1.0533
Weekly - S1 = 1.0468
Weekly - S2 = 1.0402
Weekly - S3 = 1.0337
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
