Forex Pivot Points & Technical Analysis 04.06.2015

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 1.1210$ with targets at 1.1340$ next 1.1415$ in extension.

Alternatively, Short positions below the daily pivot point 1.1210$ with targets at 1.1130$ next 1.1000$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1290, 1.1390, 1.1470

Support: 1.1130, 1.1050, 1.0885, 1.0820, 1.0715, 1.0610

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5315$ with targets at 1.5385$ next 1.5445$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5315$ with targets at 1.5260$ next 1.5190$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5445, 1.5700, 1.5825, 1.5945, 1.5995

Support: 1.5160, 1.5080, 1.5055, 1.4990, 1.4950, 1.4855

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9355 with targets at 0.9410 next 0.9480 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9355 with targets at 0.9285 next 0.9230 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9480, 0.9545, 0.9600, 0.9720

Support:  0.9270, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 124.35 with targets at 125.00 next 125.70 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.35 with targets at 123.70 next 123.05 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.50, 125.05, 125.80, 126.30

Support: 123.70, 123.30, 122.50, 122.05, 121.90, 121.45, 120.60

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2450 with targets at 1.2540 next 1.2620 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2450 with targets at 1.2370 next 1.2280 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2565, 1.2670

Support: 1.2350, 1.2305, 1.2205, 1.2160, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7780 with targets at 0.7810 next 0.7850 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7780 with targets at 0.7740 next 0.7710 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7820, 0.7845, 0.7860, 0.8030, 0.8165, 0.8215

Support: 0.7680, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7150 with targets at 0.7205 next 0.7255 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7150 with targets at 0.7095 next 0.7040 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance:  0.7205, 0.7280, 0.7315, 0.7390, 0.7420, 0.7480, 0.7565

Support: 0.7085, 0.6970, 0.6945, 0.6810

The Daily Technical Analysis brought to you by Billionaire Forex UK in collaboration with STOCK.