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EUR/USD Weekly and Monthly Pivot Points for April 16 – 20, 2012

Posted at April 16, 2012 Categories : Forex Analysis |

The pivots points chart for the EUR / USD pair for this week are placed in accordance with highs and lows and the weekly price close of the pair. This chart will enable you to place Take Profits or Stop Losses. These pivot levels can be considered as some sort of trading map allowing you to know beforehand the possible increases and declines of the pair.

Therefore it is recommended to open short positions at the R1 level and long positions at S1 level. If the weekly pivot is considered as a target, it can be a feasible strategy for swing trading. The strategy can be used in otherwise by opening long positions in S2 positions, and short R2 weekly with S1 or R1 as seen weekly targets or to the pivot point.

 

____WEEKLY_____
Weekly – R3 = 1.3360
Weekly – R2 = 1.3286
Weekly – R1 = 1.3181
Weekly Pivot = 1.3107
Weekly – S1 = 1.3002
Weekly – S2 = 1.2928
Weekly – S3 = 1.2823

 

____MONTHLY______
Monthly – R3 = 1.3865
Monthly – R2 = 1.3625
Monthly – R1 = 1.3483
Monthly Pivot = 1.3243
Monthly – S1 = 1.3101
Monthly – S2 = 1.2861
Monthly – S3 = 1.2719

The material has been provided by Instaforex Company – instaforex.com