Forex Pivot Points & Technical Analysis 06.03.2015

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 1.1045$ with targets at 1.0975$ next 1.0915$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1045$ with targets at 1.1105$ next 1.1170$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1115, 1.1270, 1.1445, 1.1500, 1.1540, 1.1650, 1.1680

Support: 1.1060, 1.1020, 1.0980, 1.0920

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5245$ with targets at 1.5270$ next 1.5300$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5245$ with targets at 1.5220$ next 1.5190$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5315, 1.5480, 1.5555, 1.5620, 1.5680, 1.5785

Support: 1.5220, 1.5195, 1.4990, 1.4950, 1.4880

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9705 with targets at 0.9780 next 0.9825 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9705 with targets at 0.9665 next 0.9585 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9685, 0.9795, 0.9885, 1.0115

Support: 0.9535, 0.9450, 0.9345, 0.9165, 0.8835, 0.8495

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.05 with targets at 120.45 next 120.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.05 with targets at 119.65 next 119.25 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.30, 120.50, 120.75, 121.70

Support: 119.35, 118.25, 118.00, 116.85, 115.85, 115.50

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2355 with targets at 1.2535 next 1.2580 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2355 with targets at 1.2420 next 1.2355 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2565, 1.2670, 1.2700, 1.2790, 1.2810, 1.2920, 1.3000

Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7795 with targets at 0.7830 next 0.7880 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7795 with targets at 0.7745 next 0.7705 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7915, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375

Support: 0.7739, 0.7625, 0.7580, 0.7460

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7515 with targets at 0.7570 next 0.7655 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7515 with targets at 0.7430 next 0.7370 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7610, 0.7670, 0.7795, 0.7890

Support: 0.7500, 0.7420, 0.7325, 0.7290, 0.7190, 0.7170