Forex Pivot Points & Technical Analysis 1/15/2015

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 1.1785$ with targets at 1.1725$ next 1.1665$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1785$ with targets at 1.1845$ next 1.1905$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1870, 1.2000, 1.2165,1.2250, 1.2300, 1.2350

Support: 1.1720, 1.1680 , 1.1620, 1.1550

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5215$ with targets at 1.5285$ next 1.5340$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5215$ with targets at 1.5160$ next 1.5090$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5270, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785, 1.5825

Support: 1.5100, 1.5030, 1.5000 , 1.4970, 1.4880

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0190 with targets at 1.0240 next 1.0290 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.0190 with targets at 1.0140 next 1.0085 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 1.0250, 1.0300, 1.0320

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

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 117.15 with targets at 118.20 next 119.00 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 117.15 with targets at 116.35 next 115.30 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 118.05, 119.96, 120.75, 121.70, 122.00, 122.35

Support: 116.05, 115.50

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1965 with targets at 1.1910 next 1.1875 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1965 with targets at 1.2000 next 1.2050 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2020, 1.2080, 1.2120, 1.2170, 1.2205

Support: 1.1870, 1.1795, 1.1670, 1.1560, 1.1500

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8130 with targets at 0.8195 next 0.8255 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8130 with targets at 0.8075 next 0.8010 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8255, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8030, 0.7970, 0.7880, 0.7830, 0.7780

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7725 with targets at 0.7675 next 0.7635 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7725 with targets at 0.7765 next 0.7820 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7660, 0.7605, 0.7575, 0.7480