Forex Pivot Points and Technical Analysis 12/08/2014

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 1.2315$ with targets at 1.2235$ next 1.2195$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2315$ with targets at 1.2360$ next 1.2440$ in extension.

EURUSD - Daily Chart Support and Resistance levels
Resistance:  1.2360, 1.2455, 1.2535, 1.2605, 1.2615, 1.2770
Support:  1.2275, 1.2240, 1.2160

GBPUSD - Day Trading Strategies
Bearish scenario: Short positions below the daily pivot point 1.5610$ with targets at 1.5525$ next 1.5482$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5610$ with targets at 1.5655$ next 1.5740$ in extension.

GBPUSD - Daily Chart Support and Resistance levels
Resistance: 1.5725, 1.5825, 1.5875, 1.5950, 1.6025
Support: 1.5560, 1.5430, 1.5270

USDCHF - Day Trading Strategies
Bearish Scenario: Short positions below the daily pivot point 0.9760 with targets at 0.9715 next 0.9660 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9760 with targets at 0.9815 next 0.9860 in extension.

USDCHF - Daily Chart Support and Resistance levels
Resistance: 0.9800, 0.9840, 0.9890, 0.9970
Support: 0.9645, 0.9525, 0.9470, 0.9360

USDJPY - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 120.95 with targets at 122.20  next 122.95 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.95 with targets at 120.25 next 118.95 in extension.

USDJPY - Daily Chart Support and Resistance levels
Resistance: 121.70, 122.00, 122.35
Support: 119.00, 118.60, 117.25, 116.80, 115.45

USDCAD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1.1430 with targets at 1.1470 next 1.1520 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1430 with targets at 1.1380 next 1.1335 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 0.8340 with targets at 0.8370 next 0.8420 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8340 with targets at 0.8285 next 0.8260 in extension.

AUDUSD - Daily Chart Support and Resistance levels
Resistance: 0.8415, 0.8545, 0.8640, 0.8680
Support: 0.8270, 0.8150, 0.8065

NZDUSD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 0.7725 with targets at 0.7755 next 0.7815 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7725 with targets at 0.7665 next 0.7635 in extension.

NZDUSD - Daily Chart Support and Resistance levels
Resistance: 0.7700, 0.7925, 0.7950, 0.7980
Support: 0.7650, 0.7620, 0.7575

The Daily FX Technical Analysis brought to you by STOCK.com in collaboration with JP&Partners Worldwide. All rights reserved.