Forex Pivot Points and Technical Analysis 12/10/2014

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 1.2375$ with targets at 1.2460$ next 1.2535$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2375$ with targets at 1.2305$ next 1.2220$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.2455, 1.2535, 1.2605, 1.2615, 1.2770

Support:   1.2240, 1.2160

 
GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5675$ with targets at 1.5725$ next 1.5770$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5675$ with targets at 1.5635$ next 1.5585$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5725, 1.5825, 1.5875, 1.5950, 1.6025

Support: 1.5585, 1.5540, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bearish Scenario: Short positions below the daily pivot point 0.9710 with targets at 0.9645 next 0.9585 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9710 with targets at 0.9770 next 0.9835 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9820, 0.9840, 0.9890, 0.9970

Support: 0.9645, 0.9525, 0.9470, 0.9360

USDJPY - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 119.45 with targets at 117.85 next 116.35 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 119.45 with targets at 120.95  next 122.50 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 121.70, 122.00, 122.35

Support: 117.23, 116.80, 115.45

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1445 with targets at 1.1390 next 1.1340 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1445 with targets at 1.1495 next 1.550 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1505, 1.1545

Support: 1.1370, 1.1310, 1.1290, 1.1180, 1.1120, 1.1070

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8295 with targets at 0.8225 next 0.8150 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8295 with targets at 0.8370 next 0.8445 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8415, 0.8545, 0.8640, 0.8680

Support: 0.8220, 0.8150, 0.8065

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7685 with targets at 0.7765 next 0.7840 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7685 with targets at 0.7615 next 0.7535 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7770, 0.7925, 0.7950, 0.7980

Support: 0.7605, 0.7575

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