Forex Pivot Points & Technical Analysis 12/02/2015

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 1.1315$ with targets at 1.1350$ next 1.1390$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1315$ with targets at 1.1275$ next 1.1240$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1500, 1.1540, 1.1650, 1.1680, 1.1755, 1.1870, 1.2000

Support: 1.1270, 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD - Day Trading Strategies

Bearish Scenario: Short positions below the daily pivot point 1.5255$ with targets at 1.5210$ next 1.5175$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5255$ with targets at 1.5290$ next 1.5335$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5355, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785

Support: 1.5195, 1.4990, 1.4950, 1.4880, 1.4770

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9270 with targets at 0.9315 next 0.9340 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9270 with targets at 0.9245 next 0.9200 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9345, 0.9550

Support: 0.8835, 0.8495, 0.8325, 0.8270

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.00 with targets at 120.70 next 121.20 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.00 with targets at 119.50 next 118.80 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.50, 120.75, 121.70

Support: 119.95, 118.65, 118.30, 116.85, 115.85, 115.50

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2630 with targets at 1.2685 next 1.2755 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2630 with targets at 1.2560 next 1.2505 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2645, 1.2790, 1.2810, 1.2920, 1.3000

Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7735 with targets at 0.7675 next 0.7635 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7735 with targets at 0.7780 next 0.7840 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7880, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375

Support: 0.7625, 0.7580, 0.7460

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7390 with targets at 0.7335 next 0.7295 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7390 with targets at 0.7430 next 0.7295 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7450, 0.7495, 0.7610, 0.7670, 0.7795, 0.7890

Support:  0.7290, 0.7190, 0.7170, 0.7080, 0.7000