Forex Pivot Points and Technical Analysis 05 January 2015

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 1.2025$ with targets at 1.1965$ next 1.1935$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2025$ with targets at 1.2060$ next 1.2120$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.2000, 1.2165,1.2250, 1.2300, 1.2350, 1.2400
Support: 1.1925, 1.1825, 1.1775

GBPUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5415$ with targets at 1.5210$ next 1.5110$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5415$ with targets at 1.5520$ next 1.5720$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5540, 1.5620, 1.5680, 1.5785, 1.5825, 1.5875
Support: 1.5270, 1.5180, 1.5075, 1.5000

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9985 with targets at 1.0030 next 1.0060 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9985 with targets at 0.9960 next 0.9915 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 1.0010, 1.0100, 1.0135
Support: 0.9885, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.30 with targets at 120.85 next 121.25 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.30 with targets at 119.90 next 119.40 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 120.75, 121.70, 122.00, 122.35
Support: 119.90, 118.80, 118.60, 117.20, 115.50

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1725 with targets at 1.1835 next 1.1895 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1725 with targets at 1.1665 next 1.1555 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1820, 1.1910, 1.2000, 1.2080
Support: 1.1670, 1.1560, 1.1500, 1.1370, 1.1310, 1.1290

AUDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8115 with targets at 0.8040 next 0.8005 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8115 with targets at 0.8150 next 0.8220 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: 0.8030, 0.7970, 0.7880, 0.7830, 0.7780

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7720 with targets at 0.7645 next 0.7605 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7720 with targets at 0.7760 next 0.7835 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7680, 0.7795, 0.7870, 0.7925, 0.7950, 0.7980
Support: 0.7605, 0.7575, 0.7480

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.