The pivot point (PPV) is a support/resistance level that considers the largest price movement taking place in a particular price. The pivot points are used in many cases, but in general they help to determine the market trend in the whole. Also it helps to define the levels of entry and exit.
Recommendations:
Taking into account the beginning of the week, it is evident that markets are undisturbed due to the prospect release of economic report. Therefore, we the market is to be maintained between R1 and S1 daily and to go back to the Pivot. Most traders suppose that the breakdown of weekly R2 and S2 are passed through means a rupture, but usually it is not so. It means that traders are losing steam and probably more participants are involved, but this kind of breakdown takes place no more than once a week and has insignificant chances for success.
Therefore, traders can use this chance and open the short positions on weekly S1 and target the weekly Pivot. This strategy turns to be profitable for swing trading. The other way of profit from strategy is to open the long positions on weekly S2 and short positions weekly R2 with weekly targets S1 or R1.
It is possible to copy these pivot levels for easy access in order to get in advance the support and resistance levels level for each pair.
____WEEKLY_____
Weekly - R3 = 1.3877
Weekly - R2 = 1.3681
Weekly - R1 = 1.3564
Weekly Pivot = 1.3368
Weekly - S1 = 1.3251
Weekly - S2 = 1.3055
Weekly - S3 = 1.2938
____MONTHLY______
Monthly - R3 = 1.3946
Monthly - R2 = 1.3590
Monthly - R1 = 1.3336
Monthly Pivot = 1.2980
Monthly - S1 = 1.2726
Monthly - S2 = 1.2370
Monthly - S3 = 1.2116
