Forex Pivot Points & Technical Analysis 21.05.2015

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 1.1105$ with targets at 1.1150$ next 1.1195$ in extension.

Alternatively, Short positions below the daily pivot point 1.1105$ with targets at 1.1060$ next 1.1015$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1270, 1.1390, 1.1470, 1.1500, 1.1535

Support: 1.1065, 1.1055, 1.0850, 1.0715

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5550$ with targets at 1.5660$ next 1.5780$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5550$ with targets at 1.5435$ next 1.5325$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.56530, 1.5825, 1.5945, 1.5995

Support: 1.5445, 1.5350, 1.5195, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9365 with targets at 0.9400 next 0.9440 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9365 with targets at 0.9330 next 0.9295 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9415, 0.9475, 0.9720

Support:  0.9270 ,0.9150, 0.9070, 0.9000, 0.8835

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 121.10 with targets at 121.55 next 121.95 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 121.10 with targets at 120.75 next 120.25 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 121.00, 121.70, 122.05

Support: 120.60, 120.10, 119.40, 118.85, 118.50, 118.25

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2210 with targets at 1.2255 next 1.2305 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2210 with targets at 1.2160 next 1.2115 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2305, 1.2350, 1.2440

Support: 1.2205, 1.2160, 1.1950, 1.1900, 1.1870

AUDUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 0.7890 with targets at 0.7920 next 0.7965 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7890 with targets at 0.7850 next 0.7815 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8030, 0.8165, 0.8215, 0.8255, 0.8295

Support: 0.7860, 0.7800, 0.7680, 0.7650

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7320 with targets at 0.7355 next 0.7410 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7320 with targets at 0.7265 next 0.7225 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance:  0.7390, 0.7420, 0.7480, 0.7565, 0.7610

Support: 0.7315, 0.7275, 0.7185