Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 02/03/2015

Forex Pivot Points and Forex Technical Analysis 02/03/2015

Mar 02 2015, 07:28 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 1.1205$ with targets at 1.1160$ next 1.1135$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1205$ with targets at 1.1230$ next 1.1275$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1270, 1.1445, 1.1500, 1.1540, 1.1650, 1.1680
Support: 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5425$ with targets at 1.5460$ next 1.5500$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5425$ with targets at 1.5385$ next 1.5350$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5555, 1.5620, 1.5680, 1.5785
Support: 1.5315, 1.5195, 1.4990, 1.4950, 1.4880, 1.4770

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9510 with targets at 0.9565 next 0.9605 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9510 with targets at 0.9470 next 0.9410 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9560, 0.9795
Support:0.9345, 0.9165, 0.8835, 0.8495, 0.8325, 0.8270

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.50 with targets at 119.90 next 120.20 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.50 with targets at 119.20 next 118.80 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.85, 120.50, 120.75, 121.70
Support: 119.40, 118.25, 118.00, 116.85, 115.85, 115.50

USDCAD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2475 with targets at 1.2415 next 1.2330 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2475 with targets at 1.2560 next 1.2620 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2670, 1.2700, 1.2790, 1.2810, 1.2920, 1.3000
Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670 

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7805 with targets at 0.7830 next 0.7860 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7805 with targets at 0.7775 next 0.7746 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7915, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375
Support: 0.7739, 0.7625, 0.7580, 0.7460

NZDUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7560 with targets at 0.7505 next 0.7455 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7560 with targets at 0.7605 next 0.7660 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7610, 0.7670, 0.7795, 0.7890
Support:  0.7420, 0.7325, 0.7290, 0.7190, 0.7170, 0.7080

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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