Forex Pivot Points and Technical Analysis 12/15/2014

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

Bullish scenario: Long positions above the daily pivot point 1.2440$ with targets at 1.2510$ next 1.2565$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2440$ with targets at 1.2385$ next 1.2315$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2495, 1.2535, 1.2605, 1.2770

Support: 1.2360, 1.2240, 1.2160

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5705$ with targets at 1.5755$ next 1.5810$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5705$ with targets at 1.5650$ next 1.5595$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5757, 1.5825, 1.5875, 1.5950, 1.6025

Support: 1.5585, 1.1.5540, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.9650 with targets at 0.9600 next 0.9665 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9650 with targets at 0.9680 next 0.9730 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9720, 0.9820, 0.9840, 0.9890, 0.9970

Support:0.9615, 0.9595, 0.9525, 0.9470, 0.9360

USDJPY - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 118.60 with targets at 117.60 next 116.45 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.60 with targets at 119.70 next 120.70 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 121.70, 122.00, 122.35

Support: 117.25, 116.80, 115.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1560 with targets at 1.1610 next 1.1640 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1560 with targets at 1.1535 next 1.1485 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1595, 1.1620, 1.1670, 1.1725

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

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8275 with targets at 0.8175 next 0.8115 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8275 with targets at 0.8335 next 0.8435 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8375, 0.8415, 0.8545, 0.8560, 0.8680

Support: 0.8200, 0.8150, 0.8065

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7790 with targets at 0.7740 next 0.7705 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7790 with targets at 0.7825 next 0.7875 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7725, 0.7650, 0.7620, 0.7575

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