Since early May the EUR/USD pair has been kept in a price range between 1.28 and 1.30. The last week's achievement was the pair was trying to break the level of 1.30, but it was quickly rejected. It is likely that this week it tries to overcome this level. We consider it is unlikely because the area is located in the first week of 1.3012 resistance. This level is a very strong resistance, so we recommend sell below this level, with the first objective of the weekly pivot of 1.2916. On the other hand, a graphic closing four hours could push towards a new minimum in the area of 1.2738. Therefore, we recommend the folowing signal for this week.
Signals for May 27 - 31, 2013
Sell in case of trading bellow 1.2916 (W_PPV), take profits are at 1.2834 and 1.2738 (W_S2), and stop loss is above first resistance of 1.3012.
Sell if pullback is around 1.3012 (W_R1), take profit is at 1.2834 (W_PPV) and 1.2738 (W_S1), stop loss is above 1.3050.
____WEEKLY_______
Weekly - R3 = 1.3190
Weekly - R2 = 1.3094
Weekly - R1 = 1.3012
Weekly Pivot = 1.2916
Weekly - S1 = 1.2834
Weekly - S2 = 1.2738
Weekly - S3 = 1.2656
____MONTHLY____
Monthly – R3 = 1.3786
Monthly – R2 = 1.3494
Monthly – R1 = 1.3330
Monthly Pivot = 1.3038
Monthly – S1 = 1.2874
Monthly – S2 = 1.2582
Monthly – S3 = 1.2418
If you would like to get this indicator, feel free to contact me via skype: gerardofx or email: gerardo.porras@analytics.instaforex.com
