Forex Pivot Points & Technical Analysis 06.05.2015

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 1.1155$ with targets at 1.1245$ next 1.1315$ in extension.

Alternatively, Short positions below the daily pivot point 1.1155$ with targets at 1.1090$ next 1.1000$ in extension.

EURUSD - Daily Chart Support and Resistance levels

 Resistance: 1.1290, 1.1315, 1.1445, 1.1500

Support: 1.1055, 1.0850, 1.0660, 1.0520, 1.0500, 1.0460

GBPUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 1.5160$ with targets at 1.5230$ next 1.5290$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5160$ with targets at 1.5095$ next 1.5030$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

 Resistance: 1.5320, 1.5480, 1.5550

Support: 1.5080, 1.5055, 1.4855, 1.4740, 1.4570

USDCHF - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.9310 with targets at 0.9380 next 0.9485 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9310 with targets at 0.9205 next 0.9135 in extension.

USDCHF - Daily Chart Support and Resistance levels

 Resistance: 0.9475, 0.9720, 0.9755, 0.9865, 1.0130

Support:  0.9275, 0.9165

USDJPY - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 120.05 with targets at 120.40 next 120.85 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.05 with targets at 119.60 next 119.25 in extension.

USDJPY - Daily Chart Support and Resistance levels

 Resistance: 120.40, 120.85, 122.05, 122.50

Support: 118.50, 118.25, 118.00, 117.05, 116.85

USDCAD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 1.2070 with targets at 1.2135 next 1.2195 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2070 with targets at 1.2010 next 1.1940 in extension.

AUDUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.7910 with targets at 0.7975 next 0.8025 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7910 with targets at 0.7860 next 0.7790 in extension.

AUDUSD - Daily Chart Support and Resistance levels

 Resistance:0.7940, 0.8090, 0.8160, 0.8215, 0.8255, 0.8295

Support: 0.7800, 0.7680, 0.7650, 0.7530

NZDUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.7520 with targets at 0.7555 next 0.7615 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7520 with targets at 0.7455 next 0.7420 in extension.

NZDUSD - Daily Chart Support and Resistance levels

 Resistance:  0.7610, 0.7740, 0.7795, 0.7850, 0.7890

Support: 0.7480, 0.7420, 0.7390