The Australian dollar is trading below the weekly pivot 1.0099. It is likely that below this area, it is still pressed by downward force to support level 0.9885. Therefore, we recommend selling the pair only if it is approaching the weekly pivot and we place stop loss some points above R1, since at the 1.0250 area has been the first weekly resistance for several days and it has offered support for the pair. Therefore, we believe that the next signal will be valid for this week.
Signal for May 13 - 18, 2013
Sell if it pulls back at 1.0199 with take profits at 0.9885 and 0.9747 (W_S2), stop loss is above 1.0250 (W_R1).
_____WEEKLY_____
Weekly - R3 = 1.0589
Weekly - R2 = 1.0451
Weekly - R1 = 1.0237
Weekly Pivot = 1.0099
Weekly - S1 = 0.9885
Weekly - S2 = 0.9747
Weekly - S3 = 0.9533
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.0922
Monthly - R2 = 1.0751
Monthly - R1 = 1.0561
Monthly Pivot = 1.0390
Monthly - S1 = 1.0200
Monthly - S2 = 1.0029
Monthly - S3 = 0.9839
