Forex Pivot Points & Technical Analysis 08.06.2015

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 1.1145$ with targets at 1.1245$ next 1.1380$ in extension.

Alternatively, Short positions below the daily pivot point 1.1145$ with targets at 1.1010$ next 1.0910$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1130, 1.1290, 1.1390, 1.1470

Support: 1.1030, 1.1005, 1.0885, 1.0820, 1.0715, 1.0610

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5240$ with targets at 1.5315$ next 1.5440$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5240$ with targets at 1.5115$ next 1.5045$ 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 0.9385 with targets at 0.9475 next 0.9595 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9385 with targets at 0.9265 next 0.9175 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9545, 0.9600, 0.9720

Support: 0.9345, 0.9270, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 125.25 with targets at 126.10 next 126.75 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 125.25 with targets at 124.60 next 123.70 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 125.80, 126.30

Support: 125.05, 123.70, 123.30, 122.50, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2460 with targets at 1.2525 next 1.2630 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2460 with targets at 1.2355 next 1.2290 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2565, 1.2670

Support: 1.2365, 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 0.7645 with targets at 0.7695 next 0.7775 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7645 with targets at 0.7565 next 0.7515 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7680, 0.7715, 0.7820, 0.7845, 0.7860, 0.8030, 0.8165

Support: 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7065 with targets at 0.7110 next 0.7190 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7065 with targets at 0.6985 next 0.6940 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420, 0.7480, 0.7565

Support: 0.7025, 0.6970, 0.6945, 0.6810

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