EUR/USD Weekly and Monthly Pivot Points for April 16 - 20, 2012 2012-04-16
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.