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Forex Pivot Points and Forex Technical Analysis 16/12/2014

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Dec 16 2014, 08:15 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 1.2435$ with targets at 1.2390$ next 1.2335$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2435$ with targets at 1.2490$ next 1.2540$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2495, 1.2535, 1.2605, 1.2770
Support: 1.2360, 1.2240, 1.2160

GBPUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5665$ with targets at 1.5580$ next 1.5520$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5665$ with targets at 1.5725$ next 1.5810$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5757, 1.5825, 1.5875, 1.5950, 1.6025
Support: 1.5585, 1.1.5540, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.9660 with targets at 0.9615 next 0.9575 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9660 with targets at 0.9695 next 0.9740 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9720, 0.9820, 0.9840, 0.9890, 0.9970
Support:0.9615, 0.9595, 0.9525, 0.9470, 0.9360

USDJPY – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 118.25 with targets at 116.95 next 116.15 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.25 with targets at 119.05 next 120.35 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 121.70, 122.00, 122.35
Support: 117.23, 116.80, 115.45

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1625 with targets at 1.1705 next 1.1750 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1625 with targets at 1.1580 next 1.1500 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180
Support: 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8225 with targets at 0.8185 next 0.8160 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8225 with targets at 0.8255 next 0.8295 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8375, 0.8415, 0.8545, 0.8560, 0.8680
Support: 0.8200, 0.8150, 0.8065

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7750 with targets at 0.7720 next 0.7695 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7750 with targets at 0.7770 next 0.7795 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980
Support: 0.7725, 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.

More Details

 

Previous articleUSDJPY: 119.25-119.40 on the upside, 116.35-116.50 on the downside.
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