The Australian dollar is trading above the weekly pivot point of 1.0217. The fact that this pair is above this level increases the chances that it continues up to the nearest resistance of 1.0320, just at this level there is the 200 day moving average. If the pair exceeds this level, it will open the way towards the key level of 1.05. Therefore, we outline the next signal to be valid for this week.
Signals for March 11 - 16, 2013
Buy above of 1.0217 with take profit at 1.0320 and 1.0402 (W_R2), stop loss is below 1.0135.(W_S1)
_____WEEKLY_____
Weekly - R3 = 1.0505
Weekly - R2 = 1.0402
Weekly - R1 = 1.0320
Weekly Pivot = 1.0217
Weekly - S1 = 1.0135
Weekly - S2 = 1.0032
Weekly - S3 = 0.9950
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.0660
Monthly - R2 = 1.0558
Monthly - R1 = 1.0386
Monthly Pivot = 1.0284
Monthly - S1 = 1.0112
Monthly - S2 = 1.0010
Monthly - S3 = 0.9838
