Forex Pivot Points & Technical Analysis 23.07.2015

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 1.0900$ with targets at 1.0990$ next 1.1060$ in extension.

Alternatively, Short positions below the daily pivot point 1.0900$ with targets at 1.0835$ next 1.0740 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.0975, 1.1135, 1.1220, 1.1285, 1.1350, 1.1470

Support: 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5605$ with targets at 1.5655$ next 1.5700$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5605$ with targets at 1.5560$ next 1.5505$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5675, 1.5815, 1.5930, 1.6000, 1.6185

Support: 1.5530, 1.5440, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9600 with targets at 0.9645 next 0.9695 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9600 with targets at 0.9555 next 0.9510 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9650, 0.9720, 0.9755, 0.9865

Support: 0.9520, 0.9405, 0.9350, 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.95 with targets at 124.30 next 124.50 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.95 with targets at 123.70 next 123.35 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.50, 124.60, 125.05, 125.80, 126.30

Support: 123.55, 122.40, 121.90, 121.45, 120.40, 118.30

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3010 with targets at 1.3085 next 1.3130 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3010 with targets at 1.2965 next 1.2890 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3055, 1.3090, 1.3125, 1.3200

Support: 1.2915, 1.2820, 1.2645, 1.2565, 1.2500, 1.2420, 1.2320

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7390 with targets at 0.7435 next 0.7500 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7390 with targets at 0.7325 next 0.7280 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7325, 0.7280, 0.7170

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6610 with targets at 0.6660 next 0.6705 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6610 with targets at 0.6565 next 0.6510 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6770, 0.6815, 0.6860, 0.6925, 0.6940

Support: 0.6555, 0.6485, 0.6380, 0.6320, 0.6275

The Technical Analysis brought to you by Billionaire Forex UK in collaboration with STOCK.