Forex Pivot Points and Technical Analysis 1/2/2015

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 1.2115$ with targets at 1.2060$ next 1.2020$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2115$ with targets at 1.2150$ next 1.2205$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2165,1.2250, 1.2300, 1.2350, 1.2400, 1.2500

Support: 1.2040, 1.1970, 1.1825, 1.1775

GBPUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5585$ with targets at 1.5545$ next 1.5510$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5585$ with targets at 1.5615$ next 1.5655$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5620, 1.5680, 1.5785, 1.5825, 1.5875

Support: 1.5500, 1.5485, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9920 with targets at 0.9970 next 1.0010 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9920 with targets at 0.9885 next 0.9835 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9985 , 1.0000, 1.0030, 1.0100

Support: 0.9865, 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 119.80 with targets at 120.75 next 121.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.80 with targets at 118.95 next 117.95 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.85, 121.70, 122.00, 122.35

Support: 118.80, 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1605 with targets at 1.1640 next 1.1665 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1605 with targets at 1.1575 next 1.1540 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1560, 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 0.8185 with targets at 0.8155 next 0.8125 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8185 with targets at 0.8210 next 0.8245 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 0.7805 with targets at 0.7760 next 0.7725 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7805 with targets at 0.7835 next 0.7880 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7850, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7740, 0.7680, 0.7605, 0.7575