Dec 09 2014, 07:45 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 1.2305$ with targets at 1.2355$ next 1.2400$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2305$ with targets at 1.2260$ next 1.2205$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2360, 1.2455, 1.2535, 1.2605, 1.2615, 1.2770
Support:   1.2240, 1.2160

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5625$ with targets at 1.5705$ next 1.5760$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5625$ with targets at 1.5570$ next 1.5485$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5725, 1.5825, 1.5875, 1.5950, 1.6025
Support: 1.5540, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bearish Scenario: Short positions below the daily pivot point 0.9775 with targets at 0.9730 next 0.9695 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9775 with targets at 0.9810 next 0.9855 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9800, 0.9840, 0.9890, 0.9970
Support: 0.9645, 0.9525, 0.9470, 0.9360

USDJPY – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 120.85 with targets at 120.00 next 119.35 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 120.85 with targets at 121.50  next 122.35 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 121.70, 122.00, 122.35
Support: 119.00, 118.60, 117.25, 116.80, 115.45

USDCAD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1465 with targets at 1.1445 next 1.1405 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1465 with targets at 1.1505 next 1.1525 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1505, 1.1545
Support: 1.1370, 1.1310, 1.1290, 1.1180, 1.1120, 1.1070

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8295 with targets at 0.8330 next 0.8360 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8295 with targets at 0.8265 next 0.8230 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8415, 0.8545, 0.8640, 0.8680
Support: 0.8220, 0.8150, 0.8065

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7655 with targets at 0.7620 next 0.7590 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7655 with targets at 0.7685 next 0.7720 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7700, 0.7925, 0.7950, 0.7980
Support: 0.7605, 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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