Forex Pivot Points & Technical Analysis 1/14/2015

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 1.1795$ with targets at 1.1735$ next 1.1690$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1795$ with targets at 1.1840$ next 1.1905$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1880, 1.2000, 1.2165,1.2250, 1.2300, 1.2350

Support: 1.1750, 1.1720, 1.1680

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5145$ with targets at 1.5215$ next 1.5260$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5145$ with targets at 1.5100$ next 1.5030$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5200, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785, 1.5825

Support: 1.5030, 1.5000 , 1.4970, 1.4880

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0180 with targets at 1.0235 next 1.0275 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.0180 with targets at 1.0140 next 1.0085 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 1.0220, 1.0250, 1.0300

Support: 1.0115, 1.0015, 0.9885, 0.9740, 0.9650, 0.9595, 0.9550

USDJPY - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 118.05 with targets at 117.30 next 116.75 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.05 with targets at 118.60 next 119.40 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 119.96, 120.75, 121.70, 122.00, 122.35

Support: 118.05, 117.80, 117.20, 115.50

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1960 with targets at 1.1925 next 1.1890 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1960 with targets at 1.1990 next 1.2025 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1890, 1.1910, 1.2000, 1.2080

Support: 1.1780, 1.1670, 1.1560, 1.1500, 1.1370, 1.1310

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8185 with targets at 0.8115 next 0.8060 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8185 with targets at 0.8240 next 0.8310 in extension.

AUDUSD - Daily Chart Support and Resistance levels

 Resistance: 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8155, 0.8030, 0.7970, 0.7880, 0.7830, 0.7780 

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7750 with targets at 0.7700 next 0.7660 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7750 with targets at 0.7790 next 0.7840 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7770, 0.7605, 0.7575, 0.7480