Forex Pivot Points & Technical Analysis 01.05.2015

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

 Bullish scenario: Long positions above the daily pivot point 1.1185$ with targets at 1.1295$ next 1.1380$ in extension.

Alternatively, Short positions below the daily pivot point 1.1185$ with targets at 1.1095$ next 1.0985$ in extension.

EURUSD - Daily Chart Support and Resistance levels

 Resistance: 1.1270, 1.1315, 1.1445, 1.1500

Support: 1.1050, 1.0850, 1.0660, 1.0520, 1.0500, 1.0460

GBPUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 1.5385$ with targets at 1.5465$ next 1.5575$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5385$ with targets at 1.5275$ next 1.5195$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

 Resistance: 1.5480, 1.5550

Support: 1.5165, 1.5055, 1.4855, 1.4740, 1.4570

USDCHF - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.9360 with targets at 0.9425 next 0.9515 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9360 with targets at 0.9270 next 0.9205 in extension.

USDCHF - Daily Chart Support and Resistance levels

 Resistance: 0.9475, 0.9720, 0.9755, 0.9865, 1.0130

Support:  0.9290, 0.9165

USDJPY - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 119.30 with targets at 120.05 next 120.70 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.30 with targets at 118.70 next 117.90 in extension.

USDJPY - Daily Chart Support and Resistance levels

 Resistance: 120.10, 120.85, 122.05, 122.50

Support: 118.50, 118.25, 118.00, 117.05, 116.85

USDCAD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 1.2060 with targets at 1.2150 next 1.2220 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2060 with targets at 1.1990 next 1.1890 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2130, 1.2305, 1.2350, 1.2440, 1.2670

Support: 1.1945, 1.1900, 1.1870, 1.1795

AUDUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.7930 with targets at 0.7990 next 0.8085 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7930 with targets at 0.7835 next 0.7770 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance:0.7940, 0.8090, 0.8160, 0.8215, 0.8255, 0.8295

Support: 0.7840, 0.7680, 0.7650, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7605 with targets at 0.7635 next 0.7670 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7605 with targets at 0.7570 next 0.7540 in extension.

NZDUSD - Daily Chart Support and Resistance levels

 Resistance:  0.7740, 0.7795, 0.7850, 0.7890

Support: 0.7610, 0.7550, 0.7535, 0.7420, 0.7390