Commodities Pivot Points and Forex Technical Analysis 13 January 2015

Jan 13 2015, 08:50 GMT

Shady Bahouth

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1830$ with targets at 1.1875$ next 1.1915$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1830$ with targets at 1.1785$ next 1.1745$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1880, 1.2000, 1.2165,1.2250, 1.2300, 1.2350
Support: 1.1750, 1.1720, 1.1680

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5155$ with targets at 1.5205$ next 1.5245$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5155$ with targets at 1.5115$ next 1.5065$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5200, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785, 1.5825
Support: 1.5030, 1.5000 , 1.4970, 1.4880

USDCHF – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.0150 with targets at 1.0115 next 1.0080 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.0150 with targets at 1.0185 next 1.0225 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 1.0220, 1.0250, 1.0300
Support: 1.0115, 1.0015, 0.9885, 0.9740, 0.9650, 0.9595, 0.9550

USDJPY – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 118.60 with targets at 117.85 next 117.35 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.60 with targets at 119.05 next 119.80 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.96, 120.75, 121.70, 122.00, 122.35
Support: 118.05, 117.80, 117.20, 115.50

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1925 with targets at 1.2020 next 1.2070 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1925 with targets at 1.1875 next 1.1785 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1890, 1.1910, 1.2000, 1.2080
Support: 1.1780, 1.1670, 1.1560, 1.1500, 1.1370, 1.1310

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8180 with targets at 0.8225 next 0.8305 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8180 with targets at 0.8105 next 0.8055 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640
Support: 0.8155, 0.8030, 0.7970, 0.7880, 0.7830, 0.7780

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7790 with targets at 0.7715 next 0.7660 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7790 with targets at 0.7845 next 0.7920 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980
Support: 0.7770, 0.7605, 0.7575, 0.7480

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.

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