Forex Pivot Points and Technical Analysis 19 November 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

Bullish scenario: Long positions above the daily pivot point 1.2520$ with targets at 1.2590$ next 1.2655$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2520$ with targets at 1.2460$ next 1.2385$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2580, 1.2615, 1.2770, 1.2840, 1.2890
Support:  1.2510, 1.2400, 1.2355, 1.2325, 1.2240

GBPUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5660$ with targets at 1.5585$ next 1.5545$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5660$ with targets at 1.5705$ next 1.5780$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5740, 1.5790, 1.5950, 1.6025, 1.6185
Support: 1.5590, 1.5570, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bearish Scenario: Short positions below the daily pivot point 0.9595 with targets at 0.9540 next 0.9495 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9595 with targets at 0.9640 next 0.9700 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9700, 0.9750, 0.9790, 0.9840
Support:  0.9550, 0.9470, 0.9360, 0.9300

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 116.75 with targets at 117.20  next 117.50 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 116.75 with targets at 116.45 next  116.05  in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 117.50 , 118.00, 118.35, 119.00
Support: 115.45, 113.80, 112.45, 110.10, 109.45

USDCAD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1325 with targets at 1.1255 next 1.1195 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1325 with targets at 1.1390 next 1.1455 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1405, 1.1470, 1.1500, 1.1545
Support:  1.1255, 1.1180, 1.1120

AUDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8710 with targets at 0.8680 next 0.8650 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.8710 with targets at 0.8745 next 0.8775 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8880, 0.8900, 0.8985, 0.9110
Support: 0.8640, 0.8600, 0.8535, 0.8480

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7925 with targets at 0.7880 next 0.7850 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7925 with targets at 0.7955 next 0.8005 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7980, 0.8035, 0.8070, 0.8130, 0.8230
Support: 0.7840, 0.7700, 0.7650, 0.7620, 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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