Forex Pivot Points & Technical Analysis 12/04/2014

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

Bearish scenario: Short positions below the daily pivot point 1.2335$ with targets at 1.2280$ next 1.2245$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2335$ with targets at 1.2370$ next 1.2425$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2360, 1.2535, 1.2605, 1.2770, 1.2890

Support:  1.2305, 1.2240, 1.2160

 GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5680$ with targets at 1.5775$ next 1.5860$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5680$ with targets at 1.5595$ next 1.5500$ 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 0.9755 with targets at 0.9800 next 0.9825 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9755 with targets at 0.9730 next 0.9685 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9790, 0.9840, 0.9890, 0.9970

Support: 0.9720, 0.9595, 0.9525, 0.9360

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.60 with targets at 120.10 next 120.40 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.60 with targets at 119.35 next 118.85 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.05, 120.50, 121.00

Support: 118.60, 117.25, 116.80, 115.45, 113.80

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1370 with targets at 1.1315 next 1.1260 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1370 with targets at 1.1420 next 1.1475 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

Bearish scenario: Short positions below the daily pivot point 0.8415 with targets at 0.8365 next 0.8335 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8415 with targets at 0.8450 next 0.8495 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8545, 0.8560, 0.8680, 0.8723, 0.8880

Support: 0.8350, 0.8315, 0.8270

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7765 with targets at 0.7720 next 0.7690 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7765 with targets at 0.7795 next 0.7835 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7925, 0.7950, 0.7980, 0.8035, 0.8070

Support: 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.

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