The euro is located below 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 below the weekly pivot, near this level a downward movement is likely to be seen.
On the other hand, above the weekly pivot the euro can take upward force and return to the levels of 1.3150 (strong resistance). Also, if the price breaks below the 200 day moving average periods, a start of a new sequence bearish until 1.25 is likely to be.
In the short term, the euro will remain bullish above the 200 day moving average periods.
1.2967 and 1.2843 are weekly and monthly pivot points for this week for EUR/USD.

Signals for October  October 29 - November 03, 2012

Buy long if it closes above weekly pivot at 1.2967, take profit at 1.3053 and 1.3167, and stop loss is below weekly support of 1.2767 (W_S2).

Buy if it rebounds around the support of 1.2853, take profit at 1.2967 and 1.3167, and stop loss bellow 1.2767 (W_S2).

____WEEKLY_____
Weekly - R3 = 1.3253
Weekly - R2 = 1.3167
Weekly - R1 = 1.3053
Weekly Pivot = 1.2967
Weekly - S1 = 1.2853
Weekly - S2 = 1.2767
Weekly - S3 = 1.2653

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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