6th – 10th April 2015 Major Currencies Weekly Pivots
Pivot levels are significant price levels calculated based on the high, low and close of the previous period. Not only does it provides price levels to work with, it also gives a range estimate of the trading day.
When the market is trading above the pivot level then it is considered bullish and when the market is trading below the pivot level it is considered bearish. Accompanying the pivot levels are both support and resistance 1 and 2, which we refer to as R1, R2, S1 & S2.
Weekly pivot points are commonly used amongst traders to estimate the weekly range and also to locate turning points in the market, which are essential for short, medium and long term traders.
EUR/USD Weekly Pivot
GBP/USD Weekly Pivot
USD/JPY Weekly Pivot
USD/CHF Weekly Pivot
AUD/USD Weekly Pivot
NZD/USD Weekly Pivot
Weekly pivot points are sourced via the Invast MT4 platform and provided weekly.