Last week, the euro closed with a loss of 0.1% after a very volatile week. However, this pair has found it difficult to break the 1.3340 level, where it stood last week, the second weekly resistance. However, this week the euro is negotiating under which demonstrated a very strong level of 1.3270. The fact that it is below the weekly pivot point increases probability of a decline of the pair for the next few days. Therefore, we recommend you selling below 1.3271 with targets at 1.3197. If this level is broken it is recommended to sell with targets at 1.3115 support. On the other hand, the weekly support level 1.3197 can move back to boost the euro. If the pair is trading above this level, there will be a buying opportunity. Therefore, we see the following trading signals will be valid for all this week.
Signals for August 05 - 10 2013
Sell below to 1.3271 (W_PV), take profits are at 1.3197 and 1.3115 (W_S2) and stop loss is above R1.
Buy if rebound is around 1.3190 (W_S1), take profits are at 1.3271 and 1.3353 (W_R1), stop loss is below 1.3150.
____WEEKLY_______
Weekly - R3 = 1.3509
Weekly - R2 = 1.3427
Weekly - R1 = 1.3353
Weekly Pivot = 1.3271
Weekly - S1 = 1.3197
Weekly - S2 = 1.3115
Weekly - S3 = 1.3041
____MONTHLY____
Monthly – R3 = 1.4101
Monthly – R2 = 1.3722
Monthly – R1 = 1.3512
Monthly Pivot = 1.3133
Monthly – S1 = 1.2923
Monthly – S2 = 1.2544
Monthly – S3 = 1.2334
If you would like to get this indicator, feel free to contact me via skype: gerardofx or email: gerardo.porras@analytics.instaforex.com
