Forex Pivot Points & Technical Analysis 29/01/2015

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

 Bearish scenario: Short positions below the daily pivot point 1.1310$ with targets at 1.1195$ next 1.1110$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1310$ with targets at 1.1395$ next 1.1510$ in extension.

EURUSD - Daily Chart Support and Resistance levels

 Resistance: 1.1460, 1.1650, 1.1680, 1.1755, 1.1870, 1.2000, 1.2165

Support: 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD - Day Trading Strategies

 Bearish scenario: Short positions below the daily pivot point 1.5140$ with targets at 1.5060$ next 1.4975$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5140$ with targets at 1.5220$ next 1.5305$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

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

Support: 1.5030, 1.4950, 1.4880, 1.4770

USDCHF - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.9055 with targets at 0.9175 next 0.9285 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9055 with targets at 0.8940 next 0.8820 in extension.

USDCHF - Daily Chart Support and Resistance levels

 Resistance: 0.9185, 0.9210, 0.9550

Support: 0.8835, 0.8495, 0.8325, 0.8270

USDJPY - Day Trading Strategies

 Bearish scenario: Short positions below the daily pivot point 117.70 with targets at 117.15 next 116.70 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 117.70 with targets at 118.15 next 118.70 in extension.

USDJPY - Daily Chart Support and Resistance levels

 Resistance: 118.90, 119.96, 120.75, 121.70, 122.00, 122.35

Support: 117.15, 115.85, 115.50, 114.80

USDCAD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 1.2485 with targets at 1.2575 next 1.2630 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2485 with targets at 1.2435 next 1.2340 in extension.

USDCAD - Daily Chart Support and Resistance levels

 Resistance: 1.2540, 1.2580, 1.2630

Support: 1.2380, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670

AUDUSD - Day Trading Strategies

 Bearish scenario: Short positions below the daily pivot point 0.7935 with targets at 0.7840 next 0.7790 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7935 with targets at 0.7985 next 0.8075 in extension.

AUDUSD - Daily Chart Support and Resistance levels

 Resistance: 0.8035, 0.8090, 0.8160, 0.8295, 0.8375, 0.8415

Support: 0. 0.7870, 0.7830, 0.7780, 0.7690

NZDUSD - Day Trading Strategies

 Bearish scenario: Short positions below the daily pivot point 0.7375 with targets at 0.7255 next 0.7195 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7375 with targets at 0.7440 next 0.7560 in extension.

NZDUSD - Daily Chart Support and Resistance levels

 Resistance: 0.7400, 0.7495, 0.7610, 0.7670, 0.7795, 0.7890

Support:  0.7310, 0.7275, 0.7170