Forex Pivot Points and Forex Technical Analysis 19/12/2014

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 1.2300$ with targets at 1.2250$ next 1.2215$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2300$ with targets at 1.2340$ next 1.2390$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2350, 1.2400, 1.2500, 1.2570, 1.2605, 1.2770
Support: 1.2240, 1.2160, 1.2040

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5650$ with targets at 1.5760$ next 1.5850$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5650$ with targets at 1.5560$ next 1.5450$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5785, 1.5825, 1.5875, 1.5950, 1.6025
Support: 1.5540, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9790 with targets at 0.9860 next 0.9915 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9790 with targets at 0.9730 next 0.9660 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9850, 0.9890, 0.9970
Support: 0.9740, 0.9650, 0.9595, 0.9550, 0.9525, 0.9470

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.85 with targets at 119.40 next 119.90 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.85 with targets at 118.35 next 117.75 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.55, 121.70, 122.00, 122.35
Support: 117.20, 115.50, 113.85, 112.50, 111.00

USDCAD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1605 with targets at 1.1540 next 1.1495 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1605 with targets at 1.1650 next 1.1715 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

Bullish scenario: Long positions above the daily pivot point 0.8155 with targets at 0.8200 next 0.8280 in extension.

Alternatively Bearish scenario: Short positions below the daily pivot point 0.8155 with targets at 0.8070 next 0.8025 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640
Support: 0.8105, 0.8065, 0.7970

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7745 with targets at 0.7810 next 0.7845 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7745 with targets at 0.7715 next 0.7645 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7870, 0.7925, 0.7950, 0.7980
Support: 0.7675, 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