Forex Pivot Points & Technical Analysis 23.1.2015

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 1.1435$ with targets at 1.1225$ next 1.1105$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1435$ with targets at 1.1560$ next 1.1770$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1460, 1.1650, 1.1680, 1.1755, 1.1870, 1.2000, 1.2165

Support: 1.1310, 1.1275 , 1.1220, 1.1180

GBPUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5065$ with targets at 1.4915$ next 1.4820$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5065$ with targets at 1.5155$ next 1.5305$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5050, 1.5270, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785

Support: 1.4970, 1.4880, 1.4770

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8660 with targets at 0.8820 next 0.8930 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8660 with targets at 0.8550 next 0.8390 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.8835, 0.8860, 0.8900

Support: 0.8495, 0.8325, 0.8270

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.25 with targets at 119.25 next 119.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.25 with targets at 117.70 next 116.70 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 118.90, 119.96, 120.75, 121.70, 122.00, 122.35

Support: 117.15, 115.85, 115.50, 114.80

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2375 with targets at 1.2430 next 1.2480 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2375 with targets at 1.2325 next 1.2265 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2420, 1.2505, 1.2580

Support: 1.2045, 1.2020, 1.1875, 1.1795, 1.1560

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8050 with targets at 0.7965 next 0.7910 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8050 with targets at 0.8105 next 0.8190 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.835, 0.8090, 0.8160, 0.8295, 0.8375, 0.8415

Support: 0.8030, 0.7970, 0.7880, 0.7830, 0.7780

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7520 with targets at 0.7460 next 0.7420 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7520 with targets at 0.7565 next 0.7625 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7890, 0.7925, 0.7950, 0.7980

Support: 0.7605, 0.7575, 0.7480