Forex Pivot Points and Technical Analysis 12/12/2014

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

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.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2445$ with targets at 1.2345$ next 1.2295$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2445$ with targets at 1.2470$ next 1.2545$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.2495, 1.2535, 1.2605, 1.2615, 1.2770

Support:   1.2360, 1.2240, 1.2160

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5710$ with targets at 1.5765$ next 1.5815$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5710$ with targets at 1.5660$ next 1.5605$ 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

Bullish scenario: Long positions above the daily pivot point 0.9675 with targets at 0.9725 next 0.9760 in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 0.9675 with targets at 0.9640 next 0.9595 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9720, 0.9820, 0.9840, 0.9890, 0.9970

Support: 0.9625, 0.9525, 0.9470, 0.9360

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.65 with targets at 119.90  next 120.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.65 with targets at 117.80 next 116.55 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

Bullish scenario: Long positions above the daily pivot point 1.1510 with targets at 1.1570 next 1.1610 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1510 with targets at 1.1470 next 1.1405 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1550, 1.1620, 1.1670, 1.1725

Support: 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8280 with targets at 0.8340 next 0.8440 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8280 with targets at 0.8185 next 0.8120 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8415, 0.8545, 0.8640, 0.8680

Support: 0.8215, 0.8150, 0.8065

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7810 with targets at 0.7755 next 0.7720 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7810 with targets at 0.7845 next 0.7905 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7735, 0.7605, 0.7575

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