The pivot points are important support and resistance levels, it serves to identify whether the price of the pair may decline. Thus, the pivot points may quite successfully serve as input and output indicators. The way the pivot points are operated and the strategy is used depend on the type of an investor.
For EUR/USD weekly and monthly pivot points for this week are 1.2970 and 1.2843.
The euro is located above the weekly pivot point and above the Moving Average of 200 periods.
Accordingly, the pivot points signify the following.
The euro is trading a few pips above the weekly pivot near this level and is likely to continue an upward move. On the other hand, it is likely to drive the downward pressure to the nearest support of 1.2868. This is the last weekly support that keeps the pair in uptrend below this level the medium-term trend may change. In the short term, the euro will remain bullish; a drop below 1.2750 could change the trend.

 Signals for 08 - 12 October, 2012

Buy long if closes above weekly pivot  at 1.2970, take profit at 1.3036 and 1.3238, and stop-loss is below weekly support of 1.2702 (W_S2).

Buy if rebounds around the support of 1.2868, with take profit at 1.3036 and 1.3404, and stop-loss bellow 1.2702 (W_S2).

____WEEKLY_____
Weekly - R3 = 1.3404
Weekly - R2 = 1.3238
Weekly - R1 = 1.3136
Weekly Pivot = 1.2970
Weekly - S1 = 1.2868
Weekly - S2 = 1.2702
Weekly - S3 = 1.2600

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 ____MONTHLY____
Monthly - R3 = 1.3856
Monthly - R2 = 1.3513
Monthly - R1 = 1.3186
Monthly Pivot = 1.2843
Monthly - S1 = 1.2516
Monthly - S2 = 1.2173
Monthly - S3 = 1.1846