Forex Quebec

GBP/USD

The GDP /USD pair has failed to close the Friday’s deals above its 200 day moving average. This is the third attempt made by the pair. Given that the pair remains above the weekly pivot point, the upward trend is likely to continue. And the moving average of 200 periods is passed through, the psychological level 1.6060 will be considered as next target.

It is necessary to be cautious with bullish positions. The situation will probably change abruptly and it is possible that the pair will move within a correction to the area 1.5712 S_1. The best position for setting Stop-loss is below the weekly pivot point around 1.5810.

The Momentum indicator provides bullish signals.

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they are used to determine the overall market trend and to identify the entry and exit levels.

Recommendations:

Considering the beginning of the week, we can say that markets are stable, apparently due to the fact that traders are expecting an economic report. The market is expected to remain between R1 and S1 daily and go back to the Pivot. Most of traders have the impression that if the weekly R2 and S2 are passed through, this can be considered as a sign of rupture, but not necessarily. It actually means that traders are losing steam and more participants are likely to be involved, but this kind of breakdown can be observed once a week and hardly can win.

Therefore, the traders should take an advantage of the situation by opening the short positions on weekly R1 or long positions on weekly S1, target the weekly Pivot, is a viable strategy to swing trading. The other way of working with this strategy is to open the long positions on weekly S2 and short positions weekly R2 with weekly targets S1 or R1.

You can copy these pivot levels for easy access, and to consider in advance the support and resistance levels level for each particular pair.

____WEEKLY_____
Weekly - R3 = 1.0152
Weekly - R2 = 1.0086
Weekly - R1 = 1.0039
Weekly Pivot = 0.9973
Weekly - S1 = 0.9926
Weekly - S2 = 0.9860
Weekly - S3 = 0.9813

____MONTHLY______
Monthly - R3 = 1.0593
Monthly - R2 = 1.0456
Monthly - R1 = 1.0240
Monthly Pivot = 1.0103
Monthly - S1 = 0.9887
Monthly - S2 = 0.9750
Monthly - S3 = 0.9534

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they are used to determine the overall market trend and to identify the entry and exit levels.

Recommendations:

Proceeding from the beginning of the week, we can mention that markets are stable, probably ahead economic report release. Therefore, the market is expected to remain between R1 and S1 daily and go back to the Pivot. Most of traders believe that if the weekly R2 and S2 are passed through, this can indicate a rupture, but not necessarily. Actually it means that traders are losing the steam and more participants are likely to be involved. Moreover, but this kind of breakdown can be observed once a week with little chance to win.

Therefore, the traders should use their opportunity by opening the short positions on weekly R1 or long positions on weekly S1, target the weekly Pivot. This strategy can be considered as viable strategy for swing trading. The other way of using this strategy is to open the long positions on weekly S2 and short positions weekly R2 with weekly targets S1 or R1.

You can copy these pivot levels for easy access, and to consider in advance the support and resistance levels level for each particular pair.

_____WEEKLY_____
Weekly - R3 = 1.1026
Weekly - R2 = 1.0920
Weekly - R1 = 1.0808
Weekly Pivot = 1.0702
Weekly - S1 = 1.0590
Weekly - S2 = 1.0484
Weekly - S3 = 1.0372

_____MONTHLY____
Monthly - R3 = 1.1364
Monthly - R2 = 1.1026
Monthly - R1 = 1.0822
Monthly Pivot = 1.0484
Monthly - S1 = 1.0280
Monthly - S2 = 0.9942
Monthly - S3 = 0.9738

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they help to determine the overall market trend and to define the levels of entry and exit.

Recommendations:

If we look at the beginning of the week, we will see that markets are undisturbed. This fact can result from the release of economic report that is expected to be published. Therefore we should expect the market is maintained between R1 and S1 daily, and the market find its way back to the Pivot. Most traders assume that if the weekly R2 and S2 are passed through, this can indicate a rupture, but usually it is not so. It means that traders are losing steam and probably more participants are involved, but we can see this kind of breakdown once a week with insignificant chances for success.

Therefore, the traders should use this opportunity and open the short positions on weekly S1 and target the weekly Pivot. This strategy is viable for swing trading. The other way of profit from strategy is to open the long positions on weekly S2 and short positions weekly R2 with weekly targets S1 or R1.

It is possible to copy these pivot levels for easy access in order to get in advance the support and resistance levels level for each particular pair.

_____WEEKLY____
Weekly - R3 = 1.6224
Weekly - R2 = 1.6063
Weekly - R1 = 1.5968
Weekly Pivot = 1.5807
Weekly - S1 = 1.5712
Weekly - S2 = 1.5551
Weekly - S3 = 1.5456

_____MONTHLY____
Monthly - R3 = 1.6520
Monthly - R2 = 1.6157
Monthly - R1 = 1.5958
Monthly Pivot = 1.5595
Monthly - S1 = 1.5393
Monthly - S2 = 1.5033
Monthly - S3 = 1.4834

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level that considers the largest price movement taking place in a particular price. The pivot points are used in many cases, but in general they help to determine the market trend in the whole. Also it helps to define the levels of entry and exit.

Recommendations:
Taking into account the beginning of the week, it is evident that markets are undisturbed due to the prospect release of economic report. Therefore, we the market is to be maintained between R1 and S1 daily and to go back to the Pivot. Most traders suppose that the breakdown of weekly R2 and S2 are passed through means a rupture, but usually it is not so. It means that traders are losing steam and probably more participants are involved, but this kind of breakdown takes place no more than once a week and has insignificant chances for success.

Therefore, traders can use this chance and open the short positions on weekly S1 and target the weekly Pivot. This strategy turns to be profitable for swing trading. The other way of profit from strategy is to open the long positions on weekly S2 and short positions weekly R2 with weekly targets S1 or R1.

It is possible to copy these pivot levels for easy access in order to get in advance the support and resistance levels level for each pair.

____WEEKLY_____
Weekly - R3 = 1.3877
Weekly - R2 = 1.3681
Weekly - R1 = 1.3564
Weekly Pivot = 1.3368
Weekly - S1 = 1.3251
Weekly - S2 = 1.3055
Weekly - S3 = 1.2938

____MONTHLY______
Monthly - R3 = 1.3946
Monthly - R2 = 1.3590
Monthly - R1 = 1.3336
Monthly Pivot = 1.2980
Monthly - S1 = 1.2726
Monthly - S2 = 1.2370
Monthly - S3 = 1.2116

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

_____WEEKLY____
Weekly - R3 = 1.6141
Weekly - R2 = 1.6012
Weekly - R1 = 1.5912
Weekly Pivot = 1.5783
Weekly - S1 = 1.5683
Weekly - S2 = 1.5554
Weekly - S3 = 1.5454

_____MONTHLY____
Monthly - R3 = 1.6520
Monthly - R2 = 1.6157
Monthly - R1 = 1.5958
Monthly Pivot = 1.5595
Monthly - S1 = 1.5393
Monthly - S2 = 1.5033
Monthly - S3 = 1.4834

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

_____WEEKLY_____
Weekly - R3 = 1.1134
Weekly - R2 = 1.0964
Weekly - R1 = 1.0866
Weekly Pivot = 1.0696
Weekly - S1 = 1.0598
Weekly - S2 = 1.0428
Weekly - S3 = 1.0330

_____MONTHLY____
Monthly - R3 = 1.1364
Monthly - R2 = 1.1026
Monthly - R1 = 1.0822
Monthly Pivot = 1.0484
Monthly - S1 = 1.0280
Monthly - S2 = 0.9942
Monthly - S3 = 0.9738

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.
The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.
You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.
If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.
BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

____WEEKLY_____
Weekly - R3 = 1.3448
Weekly - R2 = 1.3337
Weekly - R1 = 1.3247
Weekly Pivot = 1.3136
Weekly - S1 = 1.3046
Weekly - S2 = 1.2935
Weekly - S3 = 1.2845

____MONTHLY______
Monthly - R3 = 1.3946
Monthly - R2 = 1.3590
Monthly - R1 = 1.3336
Monthly Pivot = 1.2980
Monthly - S1 = 1.2726
Monthly - S2 = 1.2370
Monthly - S3 = 1.2116

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It takes into account the largest price movement that can take place in a particular price. The pivot points are used in many ways, but generally they serve to determine the overall market trend and to identify the levels of entry and exit.

The charts of the weekly and monthly pivots can be used as a plan for trading on Forex as they help to identify the possible points of entry and exit. You can use this tool with other indicators you prefer.

You can copy or save the weekly pivot levels for easy reference. You will be given a notification beforehand concerning the market fluctuations as a rebound of the market or change of a trend.

If you have a trading strategy system, you can use the levels of pivots to define the level for Take profit and Stop Loss orders.

BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

____WEEKLY_____
Weekly - R3 = 1.3704
Weekly - R2 = 1.3468
Weekly - R1 = 1.3344
Weekly Pivot = 1.3108
Weekly - S1 = 1.2984
Weekly - S2 = 1.2748
Weekly - S3 = 1.2624

____MONTHLY______
Monthly - R3 = 1.4066
Monthly - R2 = 1.3808
Monthly - R1 = 1.3374
Monthly Pivot = 1.3116
Monthly - S1 = 1.2682
Monthly - S2 = 1.2424
Monthly - S3 = 1.1990

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

The pivot point (PPV) is a support/resistance level. It considers the largest price movement that can occur in a particular price. The pivot points are used in many ways, but generally are used to determine the overall market trend and to identify entry and exit levels.

In the charts of the weekly and monthly pivots they can be used as a plan for trading on Forex as it helps to identify possible points of entry and exit. It is recommended to use this tool, pivot points with other indicators you prefer.

You can copy or save the weekly pivot levels for easy reference. You will be informed beforehand about the market fluctuations namely the rebound of the market or the change of a trend.

If you have a trading strategy system, the levels of pivots can help you to define the level for Take profit and Stop Loss orders.

BUY-deals are recommended at (S2) Support level 2; SELL-deals are recommended at (R_2) resistance level 2 and Take profit on the pivot point.

____WEEKLY_____
Weekly - R3 = 1.0303
Weekly - R2 = 1.0232
Weekly - R1 = 1.0124
Weekly Pivot = 1.0053
Weekly - S1 = 0.9945
Weekly - S2 = 0.9874
Weekly - S3 = 0.9766

____MONTHLY______
Monthly - R3 = 1.0773
Monthly - R2 = 1.0598
Monthly - R1 = 1.0401
Monthly Pivot = 1.0226
Monthly - S1 = 1.0029
Monthly - S2 = 0.9854
Monthly - S3 = 0.9657

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012