Thursday 11 December 2014

Forex Pivot Points and Technical Analysis 12/11/2014


Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.


Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1.2445$ with targets at 1.2525$ next 1.2570$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2445$ with targets at 1.2400$ next 1.2320$ in extension.

EURUSD - Daily Chart Support and Resistance levels
Resistance: 1.2535, 1.2605, 1.2615, 1.2770
Support:   1.2370, 1.2240, 1.2160

 
GBPUSD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1.5715$ with targets at 1.5785$ next 1.5820$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5715$ with targets at 1.5680$ next 1.5610$ in extension.

GBPUSD - Daily Chart Support and Resistance levels
Resistance: 1.5825, 1.5875, 1.5950, 1.6025
Support: 1.5585, 1.5540, 1.5430, 1.5270

USDCHF - Day Trading Strategies
Bearish Scenario: Short positions below the daily pivot point 0.9665 with targets at 0.9610 next 0.9585 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9665 with targets at 0.9695 next 0.9750 in extension.

USDCHF - Daily Chart Support and Resistance levels
Resistance: 0.9720, 0.9820, 0.9840, 0.9890, 0.9970
Support: 0.9645, 0.9525, 0.9470, 0.9360

USDJPY - Day Trading Strategies
Bearish scenario: Short positions below the daily pivot point 118.35 with targets at 116.85 next 116.05 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.35 with targets at 119.15  next 120.70 in extension.

USDJPY - Daily Chart Support and Resistance levels
Resistance: 121.70, 122.00, 122.35
Support: 117.23, 116.80, 115.45

USDCAD - Day Trading Strategies
Bearish scenario: Short positions below the daily pivot point 1.1470 with targets at 1.1435 next 1.1400 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1470 with targets at 1.1500 next 1.1535 in extension.

USDCAD - Daily Chart Support and Resistance levels
Resistance: 1.1505, 1.1545
Support: 1.1370, 1.1310, 1.1290, 1.1180, 1.1120, 1.1070

AUDUSD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 0.8310 with targets at 0.8395 next 0.8455 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8310 with targets at 0.8245 next 0.8160 in extension.

AUDUSD - Daily Chart Support and Resistance levels
Resistance: 0.8415, 0.8545, 0.8640, 0.8680
Support: 0.8220, 0.8150, 0.8065

NZDUSD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 0.7770 with targets at 0.7880 next 0.7940 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7770 with targets at 0.7710 next 0.7595 in extension.

NZDUSD - Daily Chart Support and Resistance levels
Resistance: 0.7770, 0.7925, 0.7950, 0.7980
Support: 0.7605, 0.7575

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