Forex Pivot Points & Technical Analysis 02.06.15

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 1.0970$ with targets at 1.1020$ next 1.1050$ in extension.

Alternatively, Short positions below the daily pivot point 1.0970$ with targets at 1.0935$ next 1.0890$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1005, 1.1070, 1.1130, 1.1290, 1.1390, 1.1470

Support: 1.0850, 1.0820, 1.0715, 1.0610

GBPUSD - Day Trading Strategies

 Bullish scenario: Long positions above the daily pivot point 1.5275$ with targets at 1.5340$ next 1.5410$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5275$ with targets at 1.5205$ next 1.5140$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5445, 1.5700, 1.5825, 1.5945, 1.5995

Support: 1.5080, 1.5055, 1.4990, 1.4950, 1.4855

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9395 with targets at 0.9445 next 0.9530 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9395 with targets at 0.9310 next 0.9260 in extension.

USDCHF - Daily Chart Support and Resistance levels

 Resistance: 0.9545, 0.9600, 0.9720

Support:  0.9345, 0.9270, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.95 with targets at 124.50 next 124.95 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.95 with targets at 123.50 next 123.00 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 125.05, 125.80, 126.30

Support: 124.10, 123.30, 122.50, 122.05, 121.90, 121.45, 120.60

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2425 with targets at 1.2450 next 1.2550 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2425 with targets at 1.2325 next 1.2300 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2565, 1.2670

Support: 1.2405, 1.2305, 1.2205, 1.2160, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7670 with targets at 0.7725 next 0.7815 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7670 with targets at 0.7580 next 0.7525 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7715, 0.7800, 0.7860, 0.8030, 0.8165, 0.8215

Support: 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7115 with targets at 0.7155 next 0.7225 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7115 with targets at 0.7045 next 0.7005 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance:  0.7185, 0.7280, 0.7315, 0.7390, 0.7420, 0.7480, 0.7565

Support: 0.7070, 0.6970, 0.6945, 0.6810

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