Pivot Points – Sample Research EUR/USD Last Updated: 3/2/2010 5:00:14 PM Select your currency pair: Daily EUR/USD Weekly EUR/USD Monthly EUR/USD High 1.3623 High 1.3693 High 1.4027 Low 1.3436 Low 1.3450 Low 1.3442 Close 1.3614 Close 1.3627 Close 1.3627 R3 1.3867 R3 1.3973 R3 1.4541 R2 1.3745 R2 1.3833 R2 1.4284 R1 1.3680 R1 1.3730 R1 1.3956 Pivot 1.3558 Pivot 1.3590 Pivot 1.3699 S1 1.3493 S1 1.3487 S1 1.3371 S2 1.3371 S2 1.3347 S2 1.3114 S3 1.3306 S3 1.3244 S3 1.2786 Pivot points are used by traders as a predictive indicator and denote levels of technical significance. When used in conjunction with other technical indicators such as support and resistance or Fibonacci, pivot points can be an effective trading tool. Pivot points are calculated using the high, low and close prices of a previous day, week or month. Three different levels of support and resistance are calculated above and below the pivot point. The three levels of resistance are referred to as R1, R2, and R3 while the three levels of support are referred to as S1, S2, and S3. When the current price is trading above the daily pivot point, this serves as an indication to initiate long positions. Conversely, when the current price is trading below the daily pivot point, this serves as an indication to initiate short positions. The support and resistance levels are used primarily as trade exits. For example, if the market price breaks above the pivot point, R1 and R2 may be used as trade targets. Should the market move to R3, traders may consider exiting the long position and even reversing the position if other technical indicators show a strong reversal trend. Neither Standard FX Trader nor its affiliates will be held responsible for the reliability or accuracy of this data. The service is provided in good faith; however, there are no explicit or implicit warranties of accuracy. The user agrees not to hold or any of its affiliates, liable for trading decisions that are based on the pivot point calculations from this website. Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Pages to are hidden for
"Pivot Points – Sample Research"Please download to view full document