Last week the Euro has fallen to its third weekly support at that level just found very strong support, as you can see here:  instaforex.com/forex_analysis/59445/  Now this week we invite you to see the new support and resistance levels.

This chart will enable you to place Take Profits or Stop Losses. These pivot levels can serve as a trading map enabling you to know beforehand the prospect highs and lows of the pair.

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

____WEEKLY_____
Weekly - R3 = 1.3056
Weekly - R2 = 1.2940
Weekly - R1 = 1.2728
Weekly Pivot = 1.2612
Weekly - S1 = 1.2400
Weekly - S2 = 1.2284
Weekly - S3 = 1.2072

____MONTHLY______
Monthly - R3 = 1.3801
Monthly - R2 = 1.3590
Monthly - R1 = 1.3415
Monthly Pivot = 1.3204
Monthly - S1 = 1.3029
Monthly - S2 = 1.2818
Monthly - S3 = 1.2643

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