The pivot point (PPv) is itself a level of support/resistance. It is considered as the largest price movement that can occur in a particular price. The pivot points are used in many ways, but typically are used to determine the overall market trend and to identify entry and exit levels.
In the charts, the weekly and monthly pivots are shown, you can use them as a map in your forex working, it will serve to identify possible points of entry and exit. I recommend using this tool, pivot points, in addition to other indicators of your choice.
You can copy or save these weekly pivot levels for easy reference, and when the market makes strong movements you will know beforehand, what level of price the market will rebound to or when it will change its trend.
____WEEKLY_____
Weekly - R3 = 1.0413
Weekly - R2 = 1.0340
Weekly - R1 = 1.0272
Weekly Pivot = 1.0199
Weekly - S1 = 1.0131
Weekly - S2 = 1.0058
Weekly - S3 = 0.9990
____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
In the charts, the weekly and monthly pivots are shown, you can use them as a map in your forex working, it will serve to identify possible points of entry and exit. I recommend using this tool, pivot points, in addition to other indicators of your choice.
You can copy or save these weekly pivot levels for easy reference, and when the market makes strong movements you will know beforehand, what level of price the market will rebound to or when it will change its trend.
____WEEKLY_____
Weekly - R3 = 1.0413
Weekly - R2 = 1.0340
Weekly - R1 = 1.0272
Weekly Pivot = 1.0199
Weekly - S1 = 1.0131
Weekly - S2 = 1.0058
Weekly - S3 = 0.9990
____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
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