Forex Pivot Points & Technical Analysis 08.05.2015

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 1.1290$ with targets at 1.1350$ next 1.1450$ in extension.

Alternatively, Short positions below the daily pivot point 1.1290$ with targets at 1.1185$ next 1.1125$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1445, 1.1500, 1.1535

Support: 1.1175, 1.1055, 1.0850, 1.0660, 1.0520, 1.0500

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5335$ with targets at 1.5505$ next 1.5620$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5335$ with targets at 1.5220$ next 1.5050$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5525, 1.5550, 1.5620, 1.5785

Support: 1.5350, 1.5195, 1.5080, 1.5055, 1.4855

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9170 with targets at 0.9275 next 0.9330 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9170 with targets at 0.9115 next 0.9015 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9275, 0.9415, 0.9475, 0.9720, 0.9755

Support:  0.9070, 0.9000, 0.8835

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.55 with targets at 120.05 next 120.35 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.55 with targets at 119.25 next 118.75 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.10, 120.50, 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 1.2180 with targets at 1.2335 next 1.2315 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2180 with targets at 1.2200 next 1.2050 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2165, 1.2205, 1.2305, 1.2350, 1.2440

Support: 1.2000, 1.1945, 1.1900, 1.1870, 1.1795

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7930 with targets at 0.7975 next 0.8045 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7930 with targets at 0.7860 next 0.7815 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8030, 0.8090, 0.8160, 0.8215, 0.8255, 0.8295

Support: 0.7860, 0.7800, 0.7680, 0.7650, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7465 with targets at 0.7505 next 0.7565 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7465 with targets at 0.7400 next 0.7360 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance:  0.7480, 0.7535, 0.7610, 0.7740, 0.7795

Support: 0.7420, 0.7390, 0.7310