kate25

EurUsd - trading with pivots and pivot trend lines

Long
FX:EURUSD   Euro / U.S. Dollar
10
Short term long. Price presently below all trends and pivots. Euro is trading close to top of this weeks pivot point - in doing so it will be by default thrown above the next weekly pivot point - basically creating a hole to slide up. If it can maintain this price range close to top of pivot at closing then I would expect a challenge on the up coming weekly pivot point deflecting up to challenge R1 if it can close above R1 then R2 will be challenged - failure to keep above the weekly pivot point will result in a challenge of S1
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