Forex Pivot Points & Technical Analysis 1/20/2015

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 1.1570$ with targets at 1.1675$ next 1.1760$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1570$ with targets at 1.1485$ next 1.1380$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1775, 1.1870, 1.2000, 1.2165,1.2250, 1.2300, 1.2350

Support: 1.1460, 1.1420, 1.1380, 1.1310, 1.1275

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5135$ with targets at 1.5190$ next 1.5295$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5135$ with targets at 1.5030$ next 1.4970$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5270, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785, 1.5825

Support: 1.5030, 1.5000 , 1.4970, 1.4880

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8685 with targets at 0.8920 next 0.9045 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8685 with targets at 0.8565 next 0.8325 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.8700, 0.8740, 0.8800, 0.8860, 0.8900

Support: 0.8565, 0.8520, 0.8325, 0.8270

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 117.15 with targets at 118.45 next 119.15 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 117.15 with targets at 116.45 next 115.15 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 118.85, 119.96, 120.75, 121.70, 122.00, 122.35

Support: 115.85, 115.50, 114.80

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1985 with targets at 1.1925 next 1.1895 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1985 with targets at 1.2015 next 1.2080 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2050, 1.2080, 1.2120, 1.2170, 1.2205

Support: 1.1875, 1.1795, 1.1670, 1.1560, 1.1500

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8205 with targets at 0.8120 next 0.8045 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8205 with targets at 0.8280 next 0.8370 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8295, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8155, 0.8030, 0.7970, 0.7880, 0.7830, 0.7780

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7785 with targets at 0.7865 next 0.7975 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7785 with targets at 0.7675 next 0.7595 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7890, 0.7925, 0.7950, 0.7980

Support: 0.7735, 0.7660, 0.7605, 0.7575, 0.7480