FIABILITY OF PIVOT POINT INDICATOR

2012

This paper presents technical analysis of the financial market in order to forecast market trend. In order to determine Pivot Point Fiability EUR/USD quotes for 2261 days were analysed. Pivot Point is a reliable indicator and can consider it when taking market decisions regardin entering and closing positions. The first time a pivot point or support / resistance level is broken is the most important. It can set the tone of the upcoming action. Based on historical dates analysis, from the previous day calculated on Pivot Point, it is possible to predict the open price of current day market, as shown and demonstrated in this paper.