Forex Pivot Points & Technical Analysis 1/21/2015

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 1.1560$ with targets at 1.1660$ next 1.1750$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1560$ with targets at 1.1470$ next 1.1370$ 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 1.5210$ next 1.5275$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5135$ with targets at 1.5065$ next 1.4990$ 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

Bearish scenario: Short positions below the daily pivot point 0.8750 with targets at 0.8665 next 0.8595 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8750 with targets at 0.8820 next 0.8905 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.8835, 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 118.40 with targets at 119.10 next 119.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.40 with targets at 117.95 next 117.20 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 118.90, 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 1.2060 with targets at 1.2005 next 1.1895 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2060 with targets at 1.2165 next 1.2225 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2120, 1.2170, 1.2205

Support: 1.2020, 1.1875, 1.1795, 1.1670, 1.1560, 1.1500

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8195 with targets at 0.8095 next 0.8035 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8195 with targets at 0.8260 next 0.8360 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

Bearish scenario: Short positions below the daily pivot point 0.7680 with targets at 0.7580 next 0.7515 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7680 with targets at 0.7745 next 0.7845 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7890, 0.7925, 0.7950, 0.7980

Support: 0.7605, 0.7575, 0.7480