For this week the pivot points (weekly and monthly) for EUR/USD are: 1.3023 weekly; 1.2448 monthly.
The euro is located bellow the weekly pivot point and above the Moving Average of 200 periods.
Accordingly, the pivot points signify the following.
The euro is trading below the weekly pivot close to this level and is likely to continue downward movement. The trend can become extremely bearish if closes below the 200 day moving average periods. In short-term, the euro remains uptrend, fall below 1.28 could change the trend.
Signal for 24 - 28 September, 2012
Sell short at 1.2800, take profit at 1.2621, stop loss is above W_S1.
Buy long if close above EMA 200 at 1.2820, take profit at 1.3023 and 1.3127, stop loss is below weekly support of 1.2770 (W_S2).
____WEEKLY_____
Weekly - R3 = 1.3380
Weekly - R2 = 1.3276
Weekly - R1 = 1.3127
Weekly Pivot = 1.3023
Weekly - S1 = 1.2874
Weekly - S2 = 1.2770
Weekly - S3 = 1.2621
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____MONTHLY____
Monthly - R3 = 1.3266
Monthly - R2 = 1.2952
Monthly - R1 = 1.2762
Monthly Pivot = 1.2448
Monthly - S1 = 1.2258
Monthly - S2 = 1.1944
Monthly - S3 = 1.1754
