Forex Pivot Points & Technical Analysis 12/09/2014

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

Bullish scenario: Long positions above the daily pivot point 1.2305$ with targets at 1.2355$ next 1.2400$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2305$ with targets at 1.2260$ next 1.2205$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2360, 1.2455, 1.2535, 1.2605, 1.2615, 1.2770

Support:   1.2240, 1.2160

 
GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5625$ with targets at 1.5705$ next 1.5760$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5625$ with targets at 1.5570$ next 1.5485$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5725, 1.5825, 1.5875, 1.5950, 1.6025

Support: 1.5540, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bearish Scenario: Short positions below the daily pivot point 0.9775 with targets at 0.9730 next 0.9695 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9775 with targets at 0.9810 next 0.9855 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

Bearish scenario: Short positions below the daily pivot point 120.85 with targets at 120.00 next 119.35 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 120.85 with targets at 121.50  next 122.35 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

Bearish scenario: Short positions below the daily pivot point 1.1465 with targets at 1.1445 next 1.1405 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1465 with targets at 1.1505 next 1.1525 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 0.8295 with targets at 0.8330 next 0.8360 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8295 with targets at 0.8265 next 0.8230 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

Bearish scenario: Short positions below the daily pivot point 0.7655 with targets at 0.7620 next 0.7590 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7655 with targets at 0.7685 next 0.7720 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7700, 0.7925, 0.7950, 0.7980

Support: 0.7605, 0.7575

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