Commodities Pivot Points and Forex Technical Analysis 16 January 2015

Jan 16 2015, 09:15 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

Bearish scenario: Short positions below the daily pivot point 1.1665$ with targets at 1.1540$ next 1.1440$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1665$ with targets at 1.1760$ next 1.1890$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1775, 1.1870, 1.2000, 1.2165,1.2250, 1.2300, 1.2350
Support: 1.1550, 1.1480, 1.1420

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5200$ with targets at 1.5250$ next 1.5325$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5200$ with targets at 1.5130$ next 1.5075$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5270, 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 0.8670 with targets at 0.8215 next 0.7880 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8670 with targets at 0.900 next 0.9460 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.8700, 0.8740, 0.8800, 0.8860, 0.8900
Support: 0.8565, 0.8520, 0.8325, 0.8270

USDJPY – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 116.65 with targets at 115.40 next 114.60 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 116.65 with targets at 117.40 next 118.70 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 118.05, 119.96, 120.75, 121.70, 122.00, 122.35
Support: 116.05, 115.50

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1920 with targets at 1.2035 next 1.2110 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1920 with targets at 1.1840 next 1.1725 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2020, 1.2080, 1.2120, 1.2170, 1.2205
Support: 1.1795, 1.1670, 1.1560, 1.1500

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8215 with targets at 0.8300 next 0.8380 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8215 with targets at 0.8140 next 0.8055 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8295, 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

Bullish scenario: Long positions above the daily pivot point 0.7810 with targets at 0.7920 next 0.8000 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7810 with targets at 0.7730 next 0.7620 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980
Support: 0.7660, 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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