The Pivot Point (PPV) is used as support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for EUR/USD are: 1.2558 weekly; 1.2448 monthly.
The euro is located above the weekly pivot point and below the Moving Average of 200 periods.
Accordingly, the pivot points signify the following.
The euro is trading above the weekly pivot close to this level and is likely to continue its growth. The pair trend can be confirmed only after the end of September 4 trading session, so we recommend buying only if it closes above this level. Furthermore, the quote below the weekly pivot will add bearish strength to the pair until the second weekly support of 1.2389 (W_S2).

Bearish Strategy

Sell short at 1.2650, take profit at 1.2480 and 1.2386, Stop Loss is above W_R1.

Bullish Strategy

Buy long if close above 1.2565, take profit at 1.2652 and 1.2730, Stop Loss is below weekly pivot of 1.2558.

____WEEKLY_____
Weekly - R3 = 1.2824
Weekly - R2 = 1.2730
Weekly - R1 = 1.2652
Weekly Pivot = 1.2558
Weekly - S1 = 1.2480
Weekly - S2 = 1.2386
Weekly - S3 = 1.2308

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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