Forex Pivot Points and Technical Analysis 12/11/2014

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.

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2445$ with targets at 1.2525$ next 1.2570$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2445$ with targets at 1.2400$ next 1.2320$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.2535, 1.2605, 1.2615, 1.2770

Support:   1.2370, 1.2240, 1.2160

 
GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5715$ with targets at 1.5785$ next 1.5820$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5715$ with targets at 1.5680$ next 1.5610$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 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 0.9665 with targets at 0.9610 next 0.9585 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9665 with targets at 0.9695 next 0.9750 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9720, 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 118.35 with targets at 116.85 next 116.05 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.35 with targets at 119.15  next 120.70 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 1.1470 with targets at 1.1435 next 1.1400 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1470 with targets at 1.1500 next 1.1535 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

Bullish scenario: Long positions above the daily pivot point 0.8310 with targets at 0.8395 next 0.8455 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8310 with targets at 0.8245 next 0.8160 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 0.7770 with targets at 0.7880 next 0.7940 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7770 with targets at 0.7710 next 0.7595 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7770, 0.7925, 0.7950, 0.7980

Support: 0.7605, 0.7575