Forex Pivot Points and Forex Technical Analysis 01/12/2014

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 1.2455$ with targets at 1.2420$ next 1.2390$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2455$ with targets at 1.2485$ next 1.2520$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2535, 1.2605, 1.2770, 1.2890
Support:    1.2395, 1.2355, 1.2325, 1.2240

GBPUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5660$ with targets at 1.5590$ next 1.5545$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5660$ with targets at 1.5705$ next 1.5770$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5740, 1.5825, 1.5875, 1.5950, 1.6025, 1.6185
Support: 1.5570, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9645 with targets at 0.9670 next 0.9695 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9645 with targets at 0.9620 next 0.9595 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9720, 0.9750, 0.9790, 0.9840
Support:  0.9615, 0.9570, 0.9550, 0.9360, 0.9300

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.40 with targets at 118.95 next 119.30 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.40 with targets at 118.00 next  117.50  in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.25, 119.70, 120.05
Support: 117.25, 116.80, 115.45, 113.80, 112.45

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1395 with targets at 1.1450 next 1.1505 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1395 with targets at 1.1345 next 1.1285 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1470, 1.1500, 1.1545
Support: 1.1405, 1.1370, 1.1290, 1.1180, 1.1120, 1.1070

AUDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8510 with targets at 0.8480 next 0.8455 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8510 with targets at 0.8530 next 0.8560 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8540, 0.85640, 0.8680, 0.8723, 0.8880
Support: 0.8415, 0.8315, 0.8270

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7840 with targets at 0.7810 next 0.7795 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7840 with targets at 0.7855 next 0.7885 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7925, 0.7950, 0.7980, 0.8035, 0.8070
Support: 0.7765, 0.7700, 0.7650, 0.7620, 0.7575

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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1 COMMENT

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