Forex Pivot Points and Technical Analysis 12/24/2014

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

Bearish scenario: Short positions below the daily pivot point 1.2195$ with targets at 1.2145$ next 1.2115$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2195$ with targets at 1.2225$ next 1.2275$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2250, 1.2300, 1.2350, 1.2400, 1.2500, 1.2570

Support: 1.2160, 1.2040, 1.1970

GBPUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5540$ with targets at 1.5470$ next 1.5415$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5540$ with targets at 1.5590$ next 1.5660$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5680, 1.5785, 1.5825, 1.5875, 1.5950

Support: 1.5485, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9860 with targets at 0.9900 next 0.9925 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9860 with targets at 0.9840 next 0.9800 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance0.9890, 0.9970 , 1.0000

Support: 0.9815, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.50 with targets at 120.95 next 121.30 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.50 with targets at 120.20 next 119.75 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.20, 121.70, 122.00, 122.35

Support: 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1630 with targets at 1.1590 next 1.1560 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1630 with targets at 1.1660 next 1.1695 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8115 with targets at 0.8085 next 0.8055 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8115 with targets at 0.8140 next 0.8170 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8080, 0.8065, 0.7970 

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7720 with targets at 0.7685 next 0.7660 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7720 with targets at 0.7745 next 0.7785 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7795, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7675, 0.7605, 0.7575