Dec 29 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

Bearish scenario: Short positions below the daily pivot point 1.2185$ with targets at 1.2150$ next 1.2130$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2185$ with targets at 1.2205$ next 1.2240$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2250, 1.2300, 1.2350, 1.2400, 1.2500, 1.2570
Support: 1.2160, 1.2040, 1.1970

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5545$ with targets at 1.5610$ next 1.5670$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5545$ with targets at 1.5485$ next 1.5420$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5680, 1.5785, 1.5825, 1.5875, 1.5950
Support: 1.5485, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9860 with targets at 0.9890 next 0.9910 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9860 with targets at 0.9840 next 0.9810 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance0.9890, 0.9970 , 1.0000
Support: 0.9815, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.25 with targets at 120.60 next 120.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.25 with targets at 120.05 next 119.70 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 120.85, 121.70, 122.00, 122.35
Support: 119.90, 118.60, 117.20, 115.50, 113.85

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1615 with targets at 1.1640 next 1.1665 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1615 with targets at 1.1590 next 1.1565 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180
Support: 1.1560, 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 0.8115 with targets at 0.8080 next 0.8055 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8115 with targets at 0.8140 next 0.8170 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: 0.8080, 0.8065, 0.7970

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7745 with targets at 0.7760 next 0.7780 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7745 with targets at 0.7725 next 0.7710 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7795, 0.7870, 0.7925, 0.7950, 0.7980
Support: 0.7680, 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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