Forex Pivot Points and Technical Analysis 12/03/2014

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 1.2415$ with targets at 1.2450$ next 1.2515$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2415$ with targets at 1.2350$ next 1.2315$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2535, 1.2605, 1.2770, 1.2890

Support:    1.2355, 1.2325, 1.2240, 1.2160

 

GBPUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5665$ with targets at 1.5565$ next 1.5485$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5665$ with targets at 1.5745$ next 1.5845$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5825, 1.5875, 1.5950, 1.6025, 1.6185

Support: 1.5570, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9695 with targets at 0.9755 next 0.9785 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9695 with targets at 0.9665 next 0.9610 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9740, 0.9750, 0.9790, 0.9840

Support:  0.9595, 0.9525, 0.9360, 0.9300

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.90 with targets at 119.55 next 119.95 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.90 with targets at 118.50 next 117.85 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 119.45, 119.70, 120.05

Support: 117.25, 116.80, 115.45, 113.80, 112.45

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1380 with targets at 1.1340 next 1.1275 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1380 with targets at 1.1445 next 1.1490 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1470, 1.1500, 1.1545

Support: 1.1310, 1.1290, 1.1180, 1.1120, 1.1070

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8475 with targets at 0.8535 next 0.8595 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8475 with targets at 0.8420 next 0.8360 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8545, 0.8560, 0.8680, 0.8723, 0.8880

Support: 0.8385, 0.8315, 0.8270

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7825 with targets at 0.7760 next 0.7720 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7825 with targets at 0.7865 next 0.7930 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7925, 0.7950, 0.7980, 0.8035, 0.8070

Support: 0.7765, 0.7700, 0.7650, 0.7620, 0.7575

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.