Feb 09 2015, 09:57 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 1.1365$ with targets at 1.1260$ next 1.1205$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1365$ with targets at 1.1420$ next 1.1530$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1500, 1.1540, 1.1650, 1.1680, 1.1755, 1.1870, 1.2000
Support: 1.1305, 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD – Day Trading Strategies

Short positions below the daily pivot point 1.5265$ with targets at 1.5180$ next 1.5125$ in extension.

Alternatively, Bearish scenario: Bullish scenario: Long positions above the daily pivot point 1.5265$ with targets at 1.5320$ next 1.5405$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5345, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785
Support: 1.5220, 1.4990, 1.4950, 1.4880, 1.4770

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9240 with targets at 0.9305 next 0.9355 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9240 with targets at 0.9190 next 0.9125 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9345, 0.9550
Support: 0.8835, 0.8495, 0.8325, 0.8270

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.50 with targets at 119.80 next 120.55 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.50 with targets at 117.75 next 116.40 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.25, 119.96, 120.75, 121.70
Support: 118.65, 116.85, 115.85, 115.50, 114.80

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2480 with targets at 1.2590 next 1.2650 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2480 with targets at 1.2420 next 1.2310 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2790, 1.2810, 1.2920, 1.3000
Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670 

AUDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7815 with targets at 0.7755 next 0.7715 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7815 with targets at 0.7850 next 0.7910 in extension. 

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7880, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375
Support: 0.7720, 0.7625, 0.7580, 0.7460

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7375 with targets at 0.7415 next 0.7485 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7375 with targets at 0.7305 next 0.7265 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7450, 0.7495, 0.7610, 0.7670, 0.7795, 0.7890
Support:  0.9320, 0.7190, 0.7170, 0.7080, 0.7000 

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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